Critical moments in Bitcoin: “Only two resistances left”

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Bitcoin price surpassed 13 thousand 700 dollars in the evening today. What do analysts say about Bitcoin?

$ 13,760 is a new record for 2020 in Bitcoin. Analysts suggest that there is only one obstacle for the leading cryptocurrency to rebound to its all-time high in 2017.

Macro investor Raoul Pal pointed out today that there are only two major price resistances left on Bitcoin’s chart. “There are exactly two resistances left on the Bitcoin chart, Pal said. $ 14,000 and then $ 20,000, the all-time high. I expect to see the new summit early next year at the latest. ” used the expressions.

Simon Peters, senior market analyst for investment platform eToro, said in an investor note this week that stimulus package fears could spark fire on Bitcoin. “We can also see an increase in inflation, another important aspect of Satoshi Nakamoto’s view of modern economies that pushed him to create Bitcoin. It will be interesting to see how this will affect the relationship between Bitcoin and stock markets. ” said.

In the same investor note, market analyst David Derhy from eToro emphasized that people should pay attention to $ 20,000 instead of $ 12,000. Derhy said, “The current uptrend can reach up to $ 14,000. If this level is passed, technically and fundamentally, the next level will be 20 thousand dollars. The size of the incentive is still up for debate, but the government will provide more economic stimulus packages. I am of the opinion that we will not fall below 12 thousand dollars for a while. ” made his comment.

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Are purchases weakening in Bitcoin?

On the other hand, there are indications that purchases in Bitcoin may be weakening. According to the data shared by Ki Young Ju, CEO of the crypto money data platform Crypto Quant, the amount of stable crypto money invested in crypto money exchanges has decreased since October 24. CEO says this situation, “The purchasing power in Bitcoin is weakening in the short term.” commented in the form.


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