No. Way. Bitcoin (BTC) just hours ago moved above $6,700 and even flirted with $6,800 on some crypto exchanges. Although many have been absolutely enamored with this move, some have been left asking: Is the cryptocurrency moving too far too fast? Let’s take a look at some analysis.
Over the past five weeks, Bitcoin has been in a decidedly bullish trend. Ever since the asset broke past the key $4,200 resistance level and its 200-day moving average, some, like Fundstrat’s Tom Lee, have proclaimed that BTC was in a “bull market”.