Bitcoin (BTC) returned to hitting records on Dec. 30 after a fresh rebound took it above its $28,400 all-time high. Data from Cointelegraph Markets and TradingView showed BTC/USD tackle its existing historic top during trading on Wednesday. In a strong resurgence overnight, Bitcoin confirmed that it had no time for bears after briefly dipping as low as $25,830 over the past 24 hours. Daily gains were at 7.5% at press time as $28,560 became reality.
The move brings Bitcoin ever closer to sealing $30,000 as a new psychological level before the end of the year, something which seemed all but impossible just one week ago. As Cointelegraph reported, however, analysts still believe that a reversal could take the largest cryptocurrency down to existing support at $19,500.
On Tuesday, Cointelegraph Markets analyst Michaël van de Poppe noentheless highlighted $27,500 as the critical area to break in order to pave the ways for new all-time highs. The knock-on impact among major cap altcoins was clearly felt, with Ether (ETH) nearing $740 after rising 5.5% on the day. Polkadot (DOT) added to existing strength to see weekly performance approach 50%. As before, the exception was XRP, which maintained 10% daily losses as continued delistings by major exchanges further weighed on sentiment. The troubled coin nonetheless managed to reclaim $0.20.
Bitcoin price inches closer to $30,000 with new all-time highs, Cointelegraph, Dec 30
- WTI crude oil reversed from support area - Likely to rise to resistance level…
- AUDJPY reversed from support area - Likely to rise to resistance level 103.00 AUDJPY…
German industrial production continues to decline. The rate of contraction in March was slightly better…
US indices have been gaining daily since the beginning of May. They have found strength…
Market picture The crypto market has lost 2% of its capitalisation over the last 24…
- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…
This website uses cookies