When Will The Bitcoin Price See $ 16,000?

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The bitcoin price hit a lot, especially in early 2020 and September, and the price dropped significantly in both March and September. The BTC / USD trading pair, which saw $ 3,700 in March, albeit temporarily, fell below $ 10,000 several times in September. However, BTC, which is on the rise in the continuation of this, is literally “swimming in the tail” of the real bull era, according to a known crypto money analyst.

The BTC / USD parity, which increased to $ 2,000 and above and exceeded $ 13,000 in a short time, encountered resistance at $ 13,800. The decline to the $ 13,000 support on October 28 also shows how strong the 13,800 resistance is. However, according to press time, the price started to pick up again and the $ 13,500 resistance was also broken.

$ 16,000 Critical For Bitcoin Price

Ghosty (PostyXBT), a well-known cryptocurrency analyst, thinks one last thing is needed before the $ 16,000 record hits. In the chart he published, the analyst stated that BTC’s last resistance point before $ 20,000 was at $ 16,000. While it is uncertain whether this will be retested, Ghosty thinks there could be a rise here after a recent drop.

Stating that it would not make sense to open a short position in such a rise, the analyst spoke hopeful about the Bicoin price.

However, with the $ 800 million shockwave on Friday, Bitcoin price could completely lose direction and decline.

See Also
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