With the start of this week, Bitcoin managed to go above the price of US$ 19,500 but a quick decline was seen thereafter. It went down to at least a couple of hundred dollars and currently had been available for trading @ US$ 19,143.47. The good thing though is that Bitcoin’s price trending suggested a further up instead of downward.
Though there were a few hick-ups but majority still believed that Bitcon’s Bull-Run hadn’t ended and would continue to accelerate.
On Sunday, 13th December, its price went upto US$ 19,500. If pegged with the US dollars then it arose to approximately 1.92% while on Saturday it went upto 4.25% alone. But suddenly at the closing of the week, Bitcoin’s price took a dip of 1.18% and went down to US$ 19,180. Since then the first-ever cryptocurrency had been trading on a price range between US$ 19,138 to 19,180. In between this time only a handful of Bitcoin’s, exactly 24 Bitcoins, had been traded on.
Experts are of the view that the Bull-Run is very much there and hadn’t finished.
Monday, 14th December, also did not start in a better way for Bitcoin. Apparently, there was an instant decline of 0.55% wherein the value went down to US$ 19,074. But in a matter of an hour or so, it regained its value back and went upto US$ 19,180. More or less, the price range for today is over US$ 19,000 which is a good sign according to Bitcoin experts and analysis.
They are expecting Bitcoin to close the week nearing US$ 19,500. They also said that at the end of the month its price would go above US$ 20,000. As per experts’ understanding, Bitcoin to achieve a resistance level of US$19,500, it would have to hinge back at US$ 19,100 level. Thereafter the support needed from the broader market would come into play for Bitcoin to break the US$ 19,500 price barrier.
The next foreseeable price barrier for Bitcoin by experts and analysts is US$ 19,801. While the next price barrier of US$ 20,000 would trigger at the last week of December 2020, they anticipated.