Bitcoin once again giving bulls hope for $12,000 and beyond

Bitcoin’s recent run higher has brought out a lot of old predictions — and some new ones — about the future of crypto prices. The largest cryptocurrency has had quite a 2020, where after dipping below $4,000 it’s marched higher and is now bouncing around in the $11,000 range.

It’s seen further acceptance in the mainstream investment community, experienced a “halving” where the rate of Bitcoin created dropped by 50% as of May, and seen correlations with gold rise to records.

The environment has changed significantly since Bitcoin’s big 2017 runup — and the comedown and “crypto winter” that followed. The digital-asset community tends toward Bitcoin bullishness at pretty much any time, but there are indications the increase might be more sustainable this time around with advocates pointing out the advantages of an alternative form of money while governments ramp up stimulus in the wake of the coronavirus pandemic.