Bitcoin is $10,000 again at the press time as part of the most impressive jump upwards in 2018 by far. Hard to believe it was 7,000 just a week ago, but the veteran coin investors and observers of the crypto world are already used to such jumps up and down.
Now it’s the perfect time to take a few steps backwards in time and see what the economic observers said recently. While the analysis of JPMorgan has proven to be quite correct, as the organization did not exclude the scenario one can witness right now, Nouriel “Dr Doom” Roubini was wrong about Bitcoin reaching $5000 and the bubble finally bursting. Yes, it might be a bubble, but it’s not bursting just yet, as one can clearly see on Coinmarketcap. Russian analyst from FxPro, Alexander Kuptsikevich, has stated that Bitcoin might have ended its correction downwards even before it reached $10,000.
Interestingly, the recent credit card issues of Coinbase, one of the most popular cryptocurrency exchanges, did not seem to influence the sentiment of investors. However, as Brian Kelly (BK Capital Management) once warned, when everybody talks about the rising asset, it may be a good time to sell it, just like it was a good time to buy Bitcoin when the bears were in the majority.