Bitcoin has shattered the $17,200 mark for the first time in nearly three years.
The leading cryptocurrency is up 5.18% in the last 24 hours at $17,253, according to CoinMarketCap. The last time BTC was at this price was in January of 2018.
At these levels, 98.94% of all Bitcoin addresses in existence have turned a profit, according to the blockchain intelligence company IntoTheBlock.
Crypto analyst Nicholas Merten says he thinks BTC will need a correction before it can reach previous all-time highs at $20,000.
“I want to be rational with you all. We’ve been having phenomenal price action in the market. There’s something very important to keep in mind here that I think is critical in understanding where we’re at right now. We’ve really had three mini cycles as we’ve been recovering from