Bitcoin hits $31,000. What's next

What a spectacular run

Bitcoin has been the big winner of the holiday season and it just keeps on going. I sat down to write this post when it hit $30,000 and it's already at $31,000.

In late November, when bitcoin was trading at $18,000 I wrote about the bullish seasonal backdrop in December and highlighted $36,000 as a technical target.

What's forgotten about the 2017 rally was how quickly the last stage developed. It went from $6000 in mid-November to $19,000 on Dec 17.

The shape of this rally was more of a steady bid until mid-December but it's just now going parabolic so I don't think it's out of the realm of possibility to see a straight-shot move to $50,000 or even $60,000.

Source: forexlive.com

Start mining bitcoin now

Start trading bitcoin now


Category: News | Views: 90 | Added by: andryvrozhkov | Tags: #Bitcoin #Bitcoin Price #BTC | Rating: 5.0/1
Total comments: 0
Name *:
Email *:
Code *:
Aave and Chainlink hit new highs as Bitcoin price fights to hold $32K (0)
China’s bitcoin miners hit by global chip shortage (0)
Crypto exchange OKCoin to Integrate with Bitcoin Lightning Network (0)
Ethereum Could See an Explosive Move Higher Following Massive 20% Surge (0)
Bitcoin in Your Pocket: Best Crypto Mobile Wallets of 2021 (0)
Bitcoin suffers worst week in months amid regulation fears (0)
Harvard crypto skeptic calls Bitcoin a ‘hedge against dystopia’ (0)
Amid blackouts and police raids, Iran weighs benefits of Bitcoin mining (0)
MicroStrategy CEO: “Avalanche of Money to Flow from Institutions & Corporations into Bitcoin” (0)
Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaintsv (0)