Bitcoin reaches all-time high today
2 min read
Today, December 16th, 2020, the price of bitcoin recorded a new all-time high.
The previous all-time high was on December 17th, 2017, exactly three years ago, when it reached $20,089 on some exchanges.
Since then, it has never again managed to break through the psychological barrier of $20,000, but today the resistance of $19,900 has been broken, allowing it to reach a new all-time high.
The fact is that after breaking through the $19,900 resistance, it seems that the next resistance is much higher, to the extent that the price today has already gone as high as $20,800, and may even try to approach $21,000.
Bitcoin at an all-time high: the risks
The curious thing is that there seems to be an excess of enthusiasm in the crypto markets these days, and such excesses usually generate mini-bubbles that often burst causing significant retracements.
This is why many analysts argue that it will not be easy to maintain these price levels for long.
On the other hand, the days between December 10th and December 20th have often been the days of the year when bitcoin’s price has made annual highs, or lows, so today’s record does not seem at all abnormal.
However, in the past when the price has boomed on these days, it has often dropped in the days that followed.
The fact is that after a few weeks of subdued volatility, the price has now started to increase significantly, returning more or less to November levels, although it is not certain that it will continue to remain at these levels in the coming days.
The post Bitcoin reaches all-time high today appeared first on The Cryptonomist.
