(BTC) price reached a new 2020 high on Feb. 13, 2020, crossing $10,497 following a 42% gain since the start of the year. This appreciation in price has led crypto analysts to suggest that a new bull run is in its early stages and some estimate that the price will reach a new all-time high at $27,000 by summer. Other analysts believe the price will reach the coveted $100,000 mark right before the start of 2021.
Alongside Bitcoin’s price gain, altcoins have been surging as well. Over the past week NEM and Tezos (XTZ) posted amazing double-digit gains, raising the idea that altcoins and Bitcoin bull periods may be correlated.
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