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.
Other positive news includes the OCC approving banks to use blockchain, which would effectively allow them to issues payments using stablecoins.
Stay tuned for more Bitcoin news as it comes.
