This is quick follow up to yesterday's bitcoin price UK pound price analysis for people trading the BTCGBP pair. The digital gold just broke the £5600 resistance. Bitcoin trading volume are also rising on Coinbase and Binance cryptocurrency exchange. Could this be the start of a new Bitcoin bull run?
It is still too early to say that we are going straight back up to bitcoin all time high but things are certainly looking better. Bitcoin price is now trading at £5685 and the next psychological target is £5700. As explained in our previous post, we have now entered a 1/2 a position at £5600 with a stop loss placed at £5400. The second half of this bitcoin trade will go live once the price reach £5700 ( at which point we might move the stop loss of the first half to break even ).
According to billionaire investor Tim Draper, the bitcoin price could $250,000 after the next bitcoin halving event that will take place in May 2020. This would mean a bitcoin price UK pound "BTCGBP" at over £190,000 -
In other words, if you buy a full bitcoin at today's price, the value of your investment will be multiplied by 33x. To stay up to date with our bitcoin price UK pound analysis, make sure to follow us on twitter and also get yourself a free copy of our Buy Bitcoin Guide for 2020.