The price of Bitcoin spiked at night by more than $1,200, or almost 11% above $12,500. Along with the price, trading volumes also grew, which fundamentally supported a positive trend. The fact that Bitcoin was not allowed to decline below $10K and the asset constantly attracted consumer demand after waves of corrections, created room for growth for the benchmark cryptocurrency and attracted new buyers.
The Bitcoin price chart resembles a parabola, however, there are fundamental differences between what we saw in 2017 and today. Two years ago, the growth parabola was no longer interrupted above the $10K up to $18K. There was a painful excitement on the market, which ended in a collapse of prices. This can be explained: many then discovered this investment segment. Now it seems that the BTC is moving towards new goals as if in “in the standard operating mode”, making measured pauses for consolidation before a new breakthrough.
The FxPro Analyst Team
- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…
- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…
Even though the Bank of Japan left the key rate and parameters of the QE…
Market picture Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…
- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…
- GBPAUD reversed from support level 1.9135 - Likely to rise to resistance level 1.9360…
This website uses cookies
