Bitcoin and ETH Make New Highs on Eve of Coinbase IPO; Can We Hit $100k?

Bitcoin's "Coinbase breakout" April 2021.

Bitcoin and ETH have both broken out of their consolidation ranges to make new highs today.  Meanwhile, the much anticipated Coinbase IPO launches tomorrow.

Will this event send Bitcoin to $100k (or at least will it be sent soaring to new highs, like most previous breakouts have done this cycle)? Or, will this be a sell-the-event sort of thing that ultimately leads to a lack of continuation (maybe something like August of 2020)?

Bitcoin fails to make new highs in the summer of 2020.

Bitcoin fails to make new highs in the August of 2020 toward the end of the summer.

Regardless of which direction we go in the short or long term, a breakout after months of consolidation is a nice show of strength for ETH and BTC, and that is nice to see.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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