Bitcoin Heading Uncharted Waters as its Value Hits $22k for the First Time

December 17, 2020


Bitcoin(BTC) is heading towards uncharted waters for the last 2 months hitting its resistances to hit another all-time high record. At around 2:40 UTC on Thursday, the price of the world’s largest cryptographic money in the market, bitcoin surpassed $22,000 for the first time, having to exchange near $21,300 for few hours amid early Asia exchanging hours, as per the Bitstamp data.


The price of the oldest cryptocurrency is exchanging around $22,658 at the time of writing. Bitcoin’s 24-hour price range is $19,316-$22,658, and it appears BTC’s price reaching six figures statements have increased in the last few weeks. The weather seems clear for BTC, as per the analysts.


Kenetic Capital CEO Jehan Chu expressed, $22,000 is a green banner while in transit to the following mental level at $25,000 and I would expect quick development and high instability under the $25,000 territory before year’s end. As top directors like Alan Howard and Guggenheim Partners take significant positions and power speculators to legitimize not allocating to bitcoin, $22,000 is a definitive slacking pointer of institutional interest, he further added. 


Sell arranges above $22,000 show up no place in sight, as indicated by CryptoQuant CEO Ki-Young Ju, who talked with CoinDesk through Telegram. The CEO expressed, looking at order books on significant trades, I can’t discover gigantic sell dividers above $22,000 until further notice. Sell dividers above $22,000 are so slender contrasted with $20,000 resistance. 


Bitcoin’s sister transport, Ethereum, has ascended to $650 new statures unheard of since May 2018. The fourth-biggest digital money by market capitalization, XRP, is exchanging around $0.57. In traditional business sectors, the S&P 500 Index is up 0.18% while the Dow Jones Industrial Average shut in the red, down 0.15% on the day.



Image Courtesy : Pixabay

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