Bitcoin continues to make new highs today as it crosses $40,000 for the first time, setting a new all-time high of just over $40,300.
At the time of writing, Bitcoin had a small pullback around $38,540. $40,000 Bitcoin is a historic number that could just be the beginning. Recently JPMorgan predicted Bitcoin to reach $146,000 as a price target in the “long term” ( source.)
Sentiment remains largely bullish contributing to continued buy pressure coming mainly from institutions and larger purchases.
Below is a chart showing some sentiment analysis using a tool on Santiment. This shows a recently uptrend in the Sentiment Balance on Twitter and social media in general over the last 3 months for Bitcoin.
Stay tuned for more Bitcoin news as it comes.