Bitcoin ( BTC ) hit its all-time high of $ 28,400 in the final episode of the Christmas trading craze before seeing a loss of thousands of dollars on December 27th.
Bitcoin price lost $ 1,900 within minutes
TradingView data lost large amounts in USD during the trade after showing gains in the BTC / USD pair. After its 24-hour earnings surpassed the 15% level, BTC faced heavy selling pressure of over $ 28,000. The largest cryptocurrency, which could not continue its extremely fast upward trend, then fell below $ 26,500.
Although nothing can be said for certain due to the high volatility at the time of writing, BTC hovers around $ 27,200.
Analyst: The bull run has begun
Bitcoin has broken many records with its latest moves. For example, it exceeded a market value of $ 500 billion for the first time in its history. Also, according to the news in Cointelegraph, the biggest gap ever created in Bitcoin futures markets can be seen.
This is gonna be the biggest CME gap in history pic.twitter.com/IWBsyQsXab
— Saylor Moon Fan Club (@cryptoSqueeze) December 27, 2020
Since overcoming the $ 24,000 resistance, Bitcoin has been trading in an unknown territory, with improvised sales levels in an increasingly parabolic market. With institutional investors taking a break, the agenda turned to individual investors who were the reason behind the final phase of the Bitcoin bull run.
“As more and more players are adopting bitcoin and cryptocurrencies, the bull cycle of bull cycles has started,” market analyst Michaël van de Poppe told his Twitter followers.
1 #Bitcoin is now worth more than $28,000.
— Michaël van de Poppe (@CryptoMichNL) December 27, 2020
Van de Poppe said that when BTC’s gains slow down, altcoins that will want to take advantage of the BTC example will line up; hence he predicts a region where Bitcoin could withdraw up to $ 19,500.