Since Monday, Bitcoin (available on Coinbase) price has leaped 13.5% to hit new levels at around $9000 for the first since May last year in what is seen as a bullish sign. At the time of writing, Bitcoin (available on Coinbase) is trading as high as $8,810 on Coinbase.

Bitcoin (available on Coinbase) Price | Highest Since 2018

Yesterday’s jump brings Bitcoin (available on Coinbase) to a maximum year to date increase of around 142.40%. Could this be the end of the 2018 bearish phase that saw Bitcoin (available on Coinbase) price lose over 70% from its all-time high of $20,000. Bulls are starting to believe that Bitcoin (available on Coinbase) will soon retest its all-time highs although it is still short of the current price target of $11,500.

Bitcoin (available on Coinbase) has been given a buy rating by a number of analysts and this sentiment is based on commentary from industry players like Fidelity Investment resulting in the momentum of the coin. As of March this year the Boston based form which manages assets worth over $2.3 trillion indicated that it will begin offering Bitcoin (available on Coinbase) trading services to a number of its customers.

However, there are those who hold the presumption that Bitcoin (available on Coinbase) is currently overvalued. JPMorgan Chase analysts noted recently that the rate at which Bitcoin (available on Coinbase) price is climbing is beyond its intrinsic value. However many crypto enthusiasts have slammed the claims stating that the banking giant did not accepted Bitcoin (available on Coinbase) since the beginning and is just being stubborn.