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Bitcoin Will Explode Over $20.000 this X-mas!

Bitcoin Will Explode Over $20.000 this X-mas! 

Prepare yourself, Bitcoin will be over all-time high by Christmas.

Bitcoin (BTC) price surged higher after continuing to be driven by bullish strength after the daily close above IDR 240 million. Then in just a few hours the price of the leading cryptocurrency shot up to IDR 257 million. This value is an all-time-high since the previous bull market boom in 2017 and 2018.

Bitcoin price is expected to move higher in the next few weeks, although some are starting to worry that the market is starting to enter a booming peak phase. Analysts are eyeing further gains from a medium-term perspective despite short-term downside concerns. 

Technical analysis perspective

Josh Rager previously commented on today's Bitcoin price rally,

observing a move towards previous all-time highs as the cryptocurrency crosses a major support level. 27 October 2020 bitcoin rose approximately 15% in the following by altcoin other increased by 2 to 30 percent in the same period if we look at the chart of bitcoin from 2012 to 2017 and the movement of the bitcoin at this time they start to show an uptrend and highways a little bit different like the same pattern before. 

Some of the bulls stated that the rally in bitcoin is different from that which occurred three years ago which produce the forgery and make the price so falls lower.

According to the account of Ivan on tech bitcoin will break through the resistance level and get bolted to $20,000 USD with the number level resistance of $13.200. so be prepared to see the all-time high at a price of $20,000.

The next factor that affects is PayPal, not only laypeople who started bitcoin, the presence of cryptocurrency in PayPal also increase the interest of a billionaire to start investing in bitcoin and this will definitely affect the market with the emergence of a new investor.

And in 2021 there will be 300 million PayPal users can buy bitcoin easily without the need to sign up on the exchange that may be still doubted by some people, the rumors of PayPal will make the cryptocurrency for online payment and there is already 26 million retail that can receive the method of payment using cryptocurrency.

with the increasing volume will make a bitcoin or another crypto goes to the higher price.

The system is if we want to buy goods or services with crypto that we have will be exchanged into fiat money when we buy something so that the merchant receives fiat currency, not crypto. but this is all just information that is circulating and growing in the community but still even though just a rumor.

the effect we've felt with the soaring prices of bitcoin is to 13.000 USD and imagine if later until it happened, bitcoin will really skyrocket.

But there are also some people who say the influence of PayPal to the market bitcoin is somewhat temporary because bitcoin or crypto in our PayPal accounts can not be transferred to the outside of the platform PayPal or to your Paypal account other so just for a means of payment only. 

Will Bitcoin Reach $20K First ?

The last factor is the optimism of investors towards bitcoin, Realvision which is the media outlet finance some time ago released the results of the survey the exchange Realvision in the report the majority of investors are optimistic that bitcoin will fly higher again for the next few months.

by looking at equity currency such as USD, Euro, and the Australian Dollar and the other of which leads to lower bond yields in the united will is down, gold is predicted will be increased but not much, bitcoin recently make positive sentiment towards the bitcoin market is getting stronger.

Reporting from the data Cointelegraph, a 14.900 USD became the support area for investors.

Data from Whale map indicate several groups of whales are formed when high-income individuals buy BTC and save them in the long term. A collection of large investors in this particular area considered as a support level. Cole Garner, an analyst on-chain, think that Bitcoin will move to a higher level.

This is expected due to the trend of on-chain and market trends such as the level of funding and interest in the open futures market. He also noted the first time that the level of funding the overall market is still low, indicating the presence of retrieval of long-term is still bounded.

This is important because the amount of a buy position relative to the position of the short (with leverage) and is indicated as a sign of the development of the market top.

Matthew Weller suggested that there is a little sensation in the movement of bitcoin this time and therefore, maybe more sustainable even if there are setbacks in the coming weeks.

However traders are advised to remain cautious and monitor the movement of Bitcoin, and if you want to trade please keep a note of the risk there.

Therefore, Bitcoin is still so the assets fluctuate so do not be greedy and hasty in selling or buying Bitcoin. That's all some of the factors that can convince us that bitcoin will break the all-time new high in 2021.

Yulina Firmansyah
Yulina Firmansyah Hi, I am a wife who really loves crypto and blockchain technology, I am a writer for this blog.

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