Bitcoin (BTC) has finally succeeded. The cryptocurrency has managed to rise above the coveted $ 20,000 and is now heading towards uncharted territory.
The long wait is over. Bitcoin has finally managed to reach over $ 20K and set the highest sink of all time. The coin had not traded above this level throughout its history, except that it exceeded this level for a short time on a particular exchange in 2017. At the time of writing, BTC is trading between $ 20,200 and $ 20,300.
Bitcoin sets new ATH
It is an understatement to say that the past few months have been exciting for Bitcoin enthusiasts. The primary cryptocurrency has progressed tremendously, dragging the entire market cap with it.
24-hour chart of BTC. Source: CoinGecko
Things have been a little sluggish and even very worrying over the past few weeks. Since breaking the 2017 high last November, Bitcoin has made several unsuccessful attempts at $ 20,000, withdrawing significantly after each. This has led quite a few analysts to ponder the possibility that perhaps the latest rally was empty.
But BTC decided to move up one step further and eventually set an all-time high to over $ 20,000.
It is worth noting that this is largely considered a price discovery zone because the cryptocurrency has not yet been seen above this level.
Technically, BTC reached $ 20,093 in BitMEX in 2017. Considering that it is not fluctuating on any other stock market, it is admitted that the region above $ 20,000 is still undiscovered. Therefore anything can happen. The next levels of resistance are $ 21,050, $ 22,200 and $ 23,800, according to some news sources and analysts. Of course, it’s interesting to watch how the cryptocurrency will perform. At the same time, it is claimed that serious fluctuations may occur with the arrival of the Christmas holiday worldwide.
It is critical to be very careful in times of such high volatility in the market. Most sources and analysts advise traders not to follow the FOMO wave and adjust well to market entry.