Bitcoin (BTC) reached its highest level in two weeks on December 15th, when new bullish activity pushed the largest cryptocurrency to nearly $ 20,000.
Coin360 cryptocurrency market review.
The highest price for Bitcoin since December 1
Data from the Cointelegraph, TradingView and Coin360 markets shows that BTC / USD reached $ 19,760 during Wednesday’s trading.
This move reverses the bearish trend that has characterized the market recently, Tuesday. After failing to breach the resistance between $ 19,500 and $ 20,000 since the start of the month, Bitcoin hit a low of $ 17,550 before rising higher.
Renewed support for buyers intensified this week, and Bitcoin showed a clear desire to finally break the $ 20,000 barrier for large sellers.
As Cointelegraph points out, Bitcoin is little in the way besides $ 20,000, hitting an unknown territory with only slight sales plans at higher levels, the data shows.
“#Bitcoin breaks through the resistance zone, which is nearing a new full-time high. Bullish!” Cointelegraph Markets analyst Michael Van de Pope tweets about the latest move.
“However, you want this $ 19,400- $ 19,500 red zone to be supportive. If this happens, the price could go up to $ 20,500-21,000.”
Meanwhile, quantitative analyst PlanB suggested that US reports accepting a $ 900 billion anti-coronavirus stimulus package boosted Bitcoin’s profits.
At the time of the press release, Bitcoin’s price was around $ 19,700 as volatility has remained high over shorter periods of time. Equity markets also rose that day.