On the Binance platform earlier today, Bitcoin hit a high point of $36,024. This is the most the coin has been worth since May 2022.
Binance data shows that the coin is selling just above $35,000 right now, which is a little less than its all-time high.
Is this a healthy rally?
A lot of people in the industry are paying close attention to Bitcoin’s recent rise and are sharing their thoughts.
Joe Carlasare, one of the first people to use Bitcoin, has said that the current rise is strong and steady.
He talks about how the value of the currency has been steadily rising and compares it to past parabolic price changes that were often followed by more volatility.
It is important to note that CoinGecko statistics shows Bitcoin is down 48.98% from its all-time high.
Euphoria on the horizon?
Henrik Zeberg’s most recent tweet, on the other hand, shows that people are more excited about crypto. An allusion to the idea of a “blow-off top” shows that he thinks crypto prices will go up a lot.
In the field of technical study of the stock market, a “blow-off top” is a certain type of chart pattern. People are very optimistic, they buy things just because they think they will go up in value, and they have a strong fear of missing out (FOMO).
Many other experts in the same field agree with this bullish view and think that this rally may still have room to grow.