Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week Bitcoin price at $16,000 and beyond? Here are the bear and bull cases
We’re undoubtedly in a bull market right now. This week, Bitcoin hit $16,000 for the first time in years.
Even this weekend’s volatility hasn’t been enough to derail BTC’s momentum. Although prices abruptly dropped to $15,670 overnight on Sunday, traders quickly stepped in to defend $16,000.
It is exceptionally rare for Bitcoin to perform this well. The world’s biggest cryptocurrency has only closed above $16,320 on 12 days in its history — just 0.28% of the time.
Naturally, the question now is whether BTC’s strength will remain, given how it’s in touching distance of surpassing the current all-time high of $20,089.