Analytics / Forex and Crypto News
This week, the bulls took full control of the Bitcoin price and were able to lift it to a new all-time high. Bitcoin hit $23777 on Thursday. Thus, the difference between the December low of $17569 and the new high is $6208.
However, it is worth noting that after reaching the high, the price of Bitcoin began to pull back. And at the time of publication, the BTC/USD pair is trading at $22650, that is, the price has decreased by $1000.
Analysts suggest that in the current situation, the price of Bitcoin will fully depend on whether the bulls can maintain their momentum and create strong support around $20000.
Any drop in the price of Bitcoin below $20000 could trigger a deep correction in the medium term. Already, the price of Bitcoin is beginning to show signs of weakness, however, the price is supported by macroeconomic strength and fundamental data. Therefore, a decline below $20000 is still unlikely.
Don't overlook the fact, however, that futures funding has grown "aggressively with a bearish bias" over the past few hours. This could be a bad signal for price.
As written above, the BTC/USD pair is currently trading around $22650. However, this move looks like a consolidation, and the bulls are likely to make another attempt to lift prices above $23000 in the near future.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov