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Bitcoin Price Renews High Above $22,000 – Is $30,000 Next?

December 17, 2020 at 9:15 by Mark Stevenson

On December 17, the price of one bitcoin price again renewed its all-time high at levels above $22,000.

In just a day, Bitcoin broke through $20,000 and $21,000. After the breakthrough of $20,000, news media around the world reported on Bitcoin. The rally was even talked about on the Chinese state television channel CCTV with an audience of 1 billion people.

As a result, expectations for the re-entry of investors who had withdrawn after the burst of the bubble increased.

At the time of writing, Bitcoin price on Bitstamp is trading above $22,800 at 9:02 GMT.

Against the background of growth, the number of Bitcoin addresses with coins of $1 million or more has reached an absolute maximum. After breaking the $20,000 mark, the addresses of all early miners who mined only 50 BTC became millionaires.

Is $30,000 now possible?

According to some crypto enthusiasts, Bitcoin bulls now target the $30,000 mark as the market runs in fear of missing out (FOMO) and retail buyers jumping in.

Speaking with Bloomberg, Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender said:

We have a new line in the sand and the focus shifts to the next round number of $30,000.

Earlier this year, Alex Mashinsky, the CEO of the crypto lending platform Celcius Networksaid he believes that the leading digital asset could reach as high as $30,000 by 2021.

I think that Bitcoin ends the year with a new high. I estimated $30,000 but it’s going to be somewhere between $20,000 and $30,000.

However, the new highs above these levels are unknown areas and there is no upside resistance line in the history of cryptocurrencies. On the other hand, there is a risk of a sharp drop due to large profit-taking, so we would like to be careful about fluctuations due to a large increase in volatility.

Altcoins follow Bitcoin bull rally

Ethereum set a new maximum since 2018 — above $650. Market capitalization has exceeded $640 billion. The open interest (OI) for altcoins in the futures market also increased. The growth leaders were Ethereum and Litecoin.

If you have any questions and comments on Bitcoin today, use the form below to reply.

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