Bitcoin Spring Shows Second-Best Quarterly Gain in 5 Years — Is Price Headed for New All-Time High?

  • Jack Thomas
    🤷 Opinions

    It has been a while since Bitcoin has seen a prolonged positive patch👍, but this past quarter registered as its 2nd-best🎉 in the last 5 years

Bitcoin Spring Shows Second-Best Quarterly Gain in 5 Years — Is Price Headed for New All-Time High?

The cryptocurrency spring has been in full bloom since the beginning of the year, and now, as the quarter winds up, there is tangible evidence to support what a good period this has been in the markets.

Bitcoin’s price is on track to be having its second-best quarter since 2014 with a 92 percent gain within two months if it remains above $8,000 by the end of June. Since April 1, in about a month and a half, the Bitcoin price has increased from $4,100 to $8,000, by nearly two-fold against the U.S. dollar.

There has been a lot more volatility, but the general trend for Bitcoin and other cryptocurrencies has been upwards.

This record-setting quarter is good news as it is more evened out and not so reliant on the short-term performance with the mass of volatility, but it shows that the major cryptocurrency is on a strong upwards curve.

Because it has been building off a better foundation and been more resistant to bad news, there are thoughts that this could be the lead up to a new all-time high, surpassing the $20,000 of December 2017.

Is this the new, bigger rally?

The end of 2018 saw Bitcoin take off at a phenomenal rate based on nothing more than fomo and speculation. The coins smashed through the $1,000 barriers almost daily from about $7,000 to $20,000.

This time, it is has still been quick that Bitcoin has risen by almost 100%, but a lot has changed in the space and in the market. There is a lot less speculation and a lot more legitimacy to the token, as well as the underlying technology.

Bitcoin began 2017 with a large 40 percent quarterly gain, followed up with an explosive 80 percent gain in the second quarter, and ended the fourth with a staggering 219 percent gain.

If history is to repeat itself, then the current boom, if it follows the 2017 trend, could well see Bitcoin reaching an even higher point come December this year, but also one based on a much firmer footing.

Cover image via
Subscribe to the official U.Today Telegram channel. Get news first!

About the author

Jack Thomas is a journalist from Australia who has had a long career writing about finance and technology. He has combined his enthusiasm for these two subjects and applied his writing to covering blockchain and cryptocurrencies in the past few years.

👓 Recommended articles

Ripple’s XRP Price Struggling — Is This the End as Max Keiser Predicts Facebook Coin Will Take Over?

  • Darryn Pollock
    🤷 Opinions

    ❌👊 XRP’s price has failed to kick on — is there too much competition as Max Keiser predicts Facebook Coin to make it obsolete?💁‍♂️⚒

Ripple’s XRP Price Struggling — Is This the End as Max Keiser Predicts Facebook Coin Will Take Over?

While the cryptocurrency markets have been down of late, there has been very little to be excited about from a Ripple point of view. The company’s XRP token has failed to kick on during the cryptocurrency spring, and maybe it is down to losing its niche.

There is a bigger and bigger drive for coins that accomplish what XRP does, and despite being one of the first, there is major competition emerging from big companies like JPMorgan, as well as now Facebook.

Max Keiser, a well-known cryptocurrency commentator, has said he believes Facebook’s hugely hyped GlobalCoin will do away with the need for hundreds of altcoins, including XRP. It remains to be seen if GlobalCoin will hit the same niche, but it does feel like it has a chance.

A cryptocurrency killer

There are hundreds of cryptocurrencies currently on the market, and not many would argue against the fact that many are not needed and a bit of a waste of space. There are niches which have a lot of competition, like the smart contract blockchains of Ethereum, Cardano, NEO, etc.

Ripple’s XRP solution to cross-border banking payments is a well known cryptocurrency, but is still just a startup and a minnow in the eyes of JPMorgan and Facebook.

Keiser is a big believer in Bitcoin, but not as fond of the massive altcoin market behind it.

Should XRP be worried?

Keiser has a point about the power of a coin backed a company of the magnitude of Facebook, but he may be stretching things a little with GlobalCoin’s reach.

XRP’s niche is, and always has been, towards banks and making partnerships there. On the other hand, GlobalCoin will be a broad token, but one targeted at individuals rather than businesses.

Questions continue to be asked about the interoperability of blockchains, and perhaps that is where this arms race will be headed. XRP can be a banking solution, and GlobalCoin one for the people, but there should be a drive to be able to get them to work seamlessly together.

Cover image via
Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.

👓 Recommended articles