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Barchart
Barchart
Andrew Hecht

Are Bitcoin and Crypto-Related Assets Heading for New Highs?

Bitcoin Riot MARA Crypto Ethereum Tether

Bitcoin is the undisputed leader of the cryptocurrency asset class. In a November 10 Barchart article highlighting Bitcoin, I wrote:

The bullish technical break in October 2023 could lead to much higher prices for Bitcoin, Ethereum, and other cryptocurrencies as investors, trend-following traders, and speculators flock to the asset class. However, the historical trading pattern shows that the higher they rise, the greater the odds of another price implosion. Like a game of speculative musical chairs, when the bullish music stops, buyers become sellers, and prices can plunge.  

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