Back in December 2019, Bitcoin was struggling to get past the value of 7,300$, while the end of 2020 has brought the top crypto to new heights. Bitcoin is taking the cryptocurrency market’s throne with 23,000$ price per one BTC coin and with over 67% of market dominance according to its market capitalization. It seems that BTC has found a firm ground for support at 23,000$ for now, which means that the top crypto might be recollecting the positive momentum needed for Bitcoin to spike to new highs.
Bitcoin Trading at 23,000$: What is Next for the Top Crypto?
Bitcoin is currently trading at a bit over 23,000$ per one BTC coin, marking new highs for the top cryptocurrency. Bitcoin now accounts for over 429,3 billion dollars in market capitalization, pulling the rest of the cryptocurrency market up with its bullish pace of growth. For now, Bitcoin is reading nearly 210% of gains for the year, which includes almost 19% of gains in the last seven days. Bitcoin has a chance to head for new highs with the current support and resistance meeting at the price of 23,000$. From this point, BTC could also enter a reversal trend and head below 23,000$, however, a minor push could take the top crypto to new highs towards 23,500$.
Analysts’ Opinion and Forecasts for Bitcoin (BTC) 2020
Analysts from TradingView provided their opinion and forecasts for BUY and SELL Bitcoin in the next 30 days. According to 15 out of 24 analysts, Bitcoin is a BUY in the next 30 days. Out of the same number of analysts, 5 consider that Bitcoin is a HOLD and are neutral on the matter, and the remaining 4 analysts consider that Bitcoin is a SELL for the same period. Bitcoin has a strong chance to enter the year 2021 on a positive note and bring more gains to investors as the post-halving momentum doesn’t seem to be exhausted yet.
Image credits: Cover photo taken from Harrison Kugler on Unsplash