The bitcoin price, having peaked at almost $20,000 per bitcoin back in December 2017, has lost some 80% of its value and is currently wallowing under $4,000 per bitcoin, despite repeated attempts to break that psychological barrier. Bitcoin bulls have been out in force over the last few weeks, talking up developments in the bitcoin space and making bold predictions about how high the bitcoin price could eventually go. "[The bitcoin market] is a tinder box right now and anything could [set off the next bull run]." The bitcoin market was then enlivened by comments from two of the most closely-watched figures in the tech world: Tesla's chief exec Elon Musk and Twitter's CEO Jack Dorsey, who both praised bitcoin technology. Bitcoin’s 50-week moving average yesterday dropped below the 100-week moving average, suggesting the bear market may have run its course.

Source: Forbes February 26, 2019 12:28 UTC