Bitcoin Price is Dangerously Parabolic at 8-Month High, Could Collapse Below $6,000

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By CCN: Nothing is stopping the bitcoin price from establishing fresh yearly highs above $6,000. The world’s leading cryptocurrency today settled a new intraday peak towards $6,989 on US-based exchange Coinbase, its best since September 5, 2018. The sustained uptrend helped bitcoin to post a net bottom-rebound of 122.69-percent. At the same time, it pushed the asset’s year-to-date performance to 83.98-percent. The move reflected traders’ willingness to purchase bitcoin at newly-established higher highs, leading to a parabola formation. In retrospective, a parabolic move happens when an asset moves upward in an active bullish channel, performs one upside breakout after another

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