A lot of people are keeping a very close eye on the Bitcoin price right now. That isn’t entirely surprising, as we are close to hitting $5,000 once again. When that happens, it will only be a matter of time until the new all-time high is formed. Some people claim reaching $6.000 will be relatively easy. The rest of the world may not necessarily be as convinced in this regard.

No one can deny the Bitcoin price momentum is very strong right now. We have seen a $800 increase over the course of the past eight days. Such gains are not uncommon in the world of cryptocurrency. At the same time, the price can head in the other direction for the same amount as well. Volatility is a second nature for all cryptocurrencies, that much is certain. Right now, it appears to be a matter of time until we see $5,000 per BTC once again.

Solid Bitcoin Price Momentum is in Effect

When the Bitcoin price will hit that major milestone again, remains to be seen. The trading volume is picking up significantly. Considering how SegWit2x is a few weeks away, things could have looked  a lot worse. Additionally, there’s the Bitcoin Gold fork, although few people care about that right now. BTC has all traits of a sales airdrop currency, which serves no real life purpose.

At the same time, altcoins are starting to recover as well. We see solid gains for Ethereum, BCH, Litecoin, NEO, and Dash. Monero is also in the green again, although this currency is still very bearish for some reason. It will be interesting to see how this Bitcoin price trend affects all other currencies. Altcoins will recover eventually and it seems things are heading in the right direction already.

According to some experts, the Bitcoin price will soar to $6,000 pretty soon. It will be pretty interesting to see if and when that can happen. It is not unrealistic to see such a price in the coming weeks. Then again, there is no reason to get ahead of ourselves in this regard. Cryptocurrency remains a volatile market at all times. Gains and losses occur intermittently, which creates some exciting opportunities for speculators.

Header image courtesy of Shutterstock

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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