Price of Bitcoin continues to be in a bullish posture following a remarkable monthly close at $13,850, which happens to be a situation of basis points away from its highest ever monthly close.

Bitcoin Value action has been bolstered by PayPal’s recent announcement that it would begin facilitating cryptocurrency buys and sells.

This followed an influx of institutional buy earlier this year, with MicroStrategy buying $475 million worth of Bitcoin in September before Square invested fifty dolars million itself.

With all basic variables today seemingly in place, out of a technical point of view Bitcoin is actually in an even more powerful position with the previously stubborn $13,000 amount of resistance now ending up as a degree of support.

If Bitcoin is able to build a platform in this region it’ll almost definitely make a move towards a new all-time high before the season is more than – Buy Bitcoin.

Nevertheless, it’s worth noting that actually during 2017’s sensational bull market, short term sell-offs happen far more frequently.

This is typically due to high net-worth traders taking earnings, which causes a cascade in sell orders and liquidations from those utilizing of exceptional leverage.

Around this stage, even if Bitcoin Price suffers a sell-off to $12,600 it would remain in a bullish long-term position, even thought it is worth taking into consideration that the upcoming US election could cause volatile swings across just about all global markets. Read:

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What is Bitcoin?

In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called Bitcoin: A Peer-to-Peer Electronic Cash System. This was penned by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who people, or this person, are.

The paper outlined a method of utilizing a P2P network for electronic transactions without being reliant on trust. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number zero (or the genesis block), which had a reward of 50 Bitcoins.