Today Bitcoin produced an all-time high reaching $6000. Price continues to surge breaking all possible resistance levels.
The demand is clearly there and it’s huge. Realising the potential of this coin in the long term, more and more people are rushing to get some Bitcoins. With the growing demand BTC price surges and at this point there is nothing to stop it from doing so. But how far it will go?
BTC/USD last week found the resistance at $5880 (627.2% Fibonacci retracement level) and stopped there for a short while. After a strong corrective move down to $5100, the price went up sharply breaking above the resistance and continues rising, currently trading at $5990.
The next Fibonacci target is 727.2%, that is $6430. But overall this strong wave up could continue and end up at $8000 for just 1 Bitcoin in a very short while!