Is Bitcoin About to Spike All Over Again?

Bitcoin has been down in the dumps as of late, but some analysts believe that the world’s number one cryptocurrency by market cap could surge by as much as $2,000 in the coming weeks. Is there any truth to their notions?

Is a Bitcoin Spike Heading Our Way?

Just last month, bitcoin had attained a new high for the year 2020 and was trading for about $10,350. This was miles above where it began the year (a measly $6,900), though that number is starting to look rather good by comparison to where the currency stands now.

Bitcoin has fallen by as much as $5,000 in less than four weeks. While the currency initially began experiencing slight drops following its $10,000 high that took it down to the $9,000 and $8,000 levels respectively, fear and global panic surrounding the coronavirus ultimately took a nasty toll on the currency’s well-being. Bitcoin began falling by the hundreds and then the thousands, eventually reaching the $5,300 it’s standing at now.

At first glance, it appears…