Bitcoin Price Analysis: Watching World Events and “Three Pushes to a High”

BTC-USD is up 160% in the 6 weeks since it last bottomed out at around $1800. The $2850 growth marks the sixth week in a row of new highs and aggressive bull runs as bitcoin sits upon its current all-time high in the $4600s. One can’t help but wonder where the top of this run lies; Goldman Sachs is calling the top of the bull run at around $4800.

Historically, during times of war and political uncertainty, investors tend to seek financial safe havens in precious metals and other long-lasting, stable investment vehicles. Yesterday, North Korea made an aggressive move toward Japan by launching a missile over Japanese airspace. Within hours of the news hitting the public, Bitcoin saw massive price growth, thus establishing, once again, a new all-time high: