The price of bitcoin is once again trading near an all-time high Coindesk said.
After about a month of uncertainty following the rejection of a major investment vehicle, bitcoin prices reached $1,343.59, a new all-time high on the CoinDesk Bitcoin Price Index on last Thursday of April, breaking the previous record of $1,325.81, set in March.
Yet, even after this modest pullback, analysts are predicting bitcoin prices will continue their steady, upward climb, pointing to factors such as technical progress in the wider cryptocurrency space as well as the growing use of bitcoin in emerging markets as factors pushing its price higher.
But with the price of bitcoin up 200% year-over-year, many are now asking where the digital asset will trade going forward. Analysts largely agreed it’s up.
When identifying bitcoin’s psychological price level, more than one pointed to $1,500, though there was far from an even consensus.
Obviously, there are still many unresolved questions with bitcoins. First is the danger to the countries with losing control of finances. The first state that will include cryptocurrency in its system of finance will benefit but questions how it will fight this case on anonymity remains open.