A few days of calm… but investors weren’t fooled. Brief hesitation around the $8,000 mark turned into another euphoric Bitcoin bull run as the cryptocurrency streaked past $8,500 earlier today.

The American Memorial Day holiday weekend didn’t seem to dampen enthusiasm for crypto, as the market capitalization of Bitcoin broke the psychologically-important $150 billion mark.

 

 

On some exchanges Bitcoin came within touching distance of the $9,000 mark, which is seen by some traders as the “point-of-no-return” for the long-term price of Bitcoin. A retracement to $7,000 – and then back to $5,000 – has been a fear as the rally stalled, but instead, the confident run towards $10,000 continues.

 

Bitcoin Price Approaches $9000 as BTC targets $10k

(CoinMarketCap.com)

Data from TheTie.io suggests that over the course of the last month, Bitcoin tweet volume has increased and is now 98% higher than the average; the same source also notes that daily sentiment is at an exceptionally high point, scoring a 89.2% toward a ‘strong positive’ signal.

Bitcoin is now profitable again on a yearly scale – as Josiah Wilmoth at CCN pointed out – and investors who plowed money into the cryptocurrency a year ago are now seeing positive returns.

The yearly high was enough to lift the entire market: other coins moved in a correlated fashion, with Ethereum, XRP, Bitcoin Cash, and Litecoin all within a percentage point or two of Bitcoin’s 7% daily increase.

Although volume continued to build following the spike, the price of Bitcoin did retrace slightly by around 10pm UTC, and was trading on Coinbase Pro at ~$8,540.

 

Bitcoin Price on Coinbase Pro GDAX at 10pm UTC

 

While some expect the excitement to dull over the holiday Monday, the positive trend may indicate that Crypto Spring is finally over – and we’re well and truly headed for a long and plentiful summer.

 

 

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