Up 25% in August, Is Bitcoin Now a No-Brainer Buy?
Bitcoin has delivered sizzling performance in the final month of summer. But how much longer can it continue?
Overview
Seemingly out of nowhere, the price of Bitcoin (CRYPTO: BTC) has taken off like a rocket in August. It's now up 25% for the month, putting Bitcoin on a trajectory for its best August since 2017. Bitcoin now trades near $80,000.
It's no surprise, then, that analysts and investors have been busy ratcheting up their year-end price targets for Bitcoin. There's now a growing consensus that Bitcoin could reach $100,000 by the end of the year. So is now the time to start loading up on Bitcoin?
Details
To answer that question, it's helpful to consider how Bitcoin got here in the first place. The primary catalyst appears to be a high-level meeting of crypto executives at the White House on Aug. 19.
Source
Originally published at www.fool.com.