For the first time in 2020, Bitcoin has hit the $10, 000 mark considered by many analysts to be a key psychological resistance.
This means bitcoin has risen over 40% in 2020 alone so far.
After a massive bull run over the weekend, it was clearly that bitcoin was heading for a major break and traders were primed for a strong directional move which came sooner than expected.
SEE ALSO: Bitcoin was the Best Investment of the Decade, Says Bank of America Securities Report
While this is not the first time that the cryptocurrency has hit $10, 000, it is however the first time that the valuation is justifiable based on fundamentals of the network.
An analysis of the bitcoin blockchain reveals the following:
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