Bitcoin Hits New 2020 High Above $8,400 After Iranian Missile Attack
Bitcoin’s price has hit a new record for 2020, reaching as high as $8,438 before retracing slightly.
Bitcoin has erased 45 percent of recent gains in what appears to be a low-volume pullback.
Bitcoin's bullish case remains intact with prices holding well above key support near $7,570.
Bitcoin may be behind the internet’s timeline in terms of commercial use cases, but it has already achieved comparable social functions.
Bitcoin, like gold, is a limited asset that can't be easily increased to meet demand. Bloomberg analysts predict the price of both will rise this year.
Bitcoin looks set to take a page out of gold's book and confirm a price breakout on the weekly chart.