By CCN: Another day, another new height for the bitcoin price. Bitcoin is currently at nearly $ 8,300, which according to CoinMarketCap data is a new 2019 high for the largest crypto competition. At Coinbase, the BTC price already achieved $ 8,300, but it has pulled a little back. Although it is not the first time that the bitcoin price has surpassed this level historically, the market has gained stronger basic combustion gains this time.
The tension in the crypto environment is attracted. Gemini founder Tyler Winklevoss noted that "breaking 8k this time feels very different than last time."
Bitcoin breaking 8k this time feels a lot different than last time. So much progress has been made since then, and that's just the bottom of the first inning! Tyler Winklevoss (@tylerwinklevoss) May 16, 2019
Trader and analyst Luke Martin noted that bitcoin reaches new heights "never gets old."
$ BTC makes new 2019 heights. It can happen every day for the rest of the year, and it will never be old.
– Luke Martin (@VentureCoinist) May 16, 2019
Finally! The Bitcoin Prize is about Good News
One of the frustrating topics in 2018 was that the BTC Prize ignored signs that the industry was getting stronger when developers "buidling". 2019 is a completely different story. Now that bitcoin barreling against $ 10,000, Fundstrat's Tom Lee suggested that it is more likely to catch the attention of traditional investors outside the crypto game. He told CNBC:
"It's very important because bringing in the new interest in managed cryptography can really create bitcoin to their full time high."
#Bitcoin YTD> 100%
If a family Office / institutional investor had 2% #crypto allocation (small) …
Bitcoin would have added 200bp to the total portfolio.
STAGGERING (only the first 5 months of 2019). Another argument that Crypto should be embraced as a #asset class https://t.co/PTnHBQIwmv
– Thomas Lee (@fundstrat) May 13, 2019
No shortage on Catalysts
There are many reasons why the bitcoin bulls are out in full force. As Fundstrat's Lee told CNBC, the BTC award has risen steadily since November 2018. But in recent weeks, the winnings have become "more parabolic" in nature. The stars have adjusted for the bitcoin price for several reasons, not least involving geopolitical tensions that unfold between the US and China. Not only have these conditions made bitcoin better than ever for investors because of their uncorrelated nature to stocks, but bitcoin has become the "safe haven" investment, according to Morgan Creek Digital Co-Founders Anthony Pompliano. He tweeted:
"JPMorgan tells people that the US and China trade war could increase the security ports' currencies. Bitcoin is the best safe haven currency in the world. Nervous about global chaos? Buy the strongest non-sovereign currency.
JP Morgan people that the US and China trade war can increase the port of social security
Bitcoin is the best safe haven currency in the world.
– Pomp 🌪 (@APompliano) May 15, 2019
It There is no shortage of catalysts, really. Regulated BTC futures exchange Bakkt has given greater clarity about its forthcoming launch, which is likely to unlock institutional capital from the sidelines. And Gemini's cryptic exchange has pushed bitcoin into the spotlight by allowing thousands of sellers While accepting the crypto course as a form of payment, while investors may be grappling with selling in May and slipping into the stock market, bitcoin seems to be just getting started.