Following a stellar rally that brought the coin up into the triple-digit range, a crypto analyst is saying that the currency has run its course, and likely to come to a screeching halt soon.
Cryptocurrencies have been experiencing a solid bull run for the past two weeks. On April 3, bitcoin, for example, spiked beyond the $5,000 mark for the first time in roughly five months. Prior, bitcoin had been trapped in the doldrums for most of 2018.
Starting in January of that year, the father of crypto began sinking from the $20,000 high it first experienced in December 2017. It ultimately came to a standstill at the $6,000 range, where it hung for most of the summer.
However, by the time Thanksgiving rolled around, things took a nastier turn, and bitcoin fell to about $3,600, where it remained for some time. The situation looked very grim, and with no bullish trends in sight, many enthusiasts and traders found themselves wondering when (or even if) bitcoin could ever recover.