Forex and Crypto News

What movement will Bitcoin show this week?

15:16 14 December /2020

Bitcoin price climbed above $19000 yesterday and remains above that level. After the BTC/USD pair climbed above $19000, the bulls activated and this helped the pair to reach the $19300 level. However, at the time of publication, the BTC/USD pair is trading around $19200.

Despite the fact that the price was in a downtrend last week, the BTС/USD pair did not fall below $17600. What movement will Bitcoin show this week?

The WhaleMap team, tracking the activity of "whales", drew attention to several levels of support for Bitcoin from large investors. The lowest of these was recorded at $17170.

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According to analysts' forecasts, support will increase in several zones. If there are risks of a rollback below $17000, the whales will make every effort to prevent such a scenario.

The local "bottom" was set on December 11 at $17637. Then the growth resumed, and the day before, Bitcoin was able to test the weekly high.

A sharp increase in volatility was indicated by the Santiment team. Analysts compared the movement of the cryptocurrency to a "roller coaster" and stressed that negative sentiment prevailed last week. Many expected a further fall and doubted that Bitcoin could repeat the growth of three years ago, that is, exceed $20000.

Robert Kiyosaki encourages investors to invest in Bitcoin while it is trading below $20000. According to the financier, in 2021 BTC will reach $50000 and you need to take advantage of the current market situation and purchase coins. In addition, Kiyosaki expects the price of gold and silver to rise.

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