3 reasons why Bitcoin price violently rejected near $20,000

Bitcoin (BTC) finally managed to secure a new all-time high but the digital asset rejected strongly near $20,000. On-chain analysts say a sell-off from whales and miners, combined with the $20,000 level acting as a resistance level caused a fierce drop. BTC/USD 15-minute chart. Source: TradingView What led whales and miners to sell Bitcoin? For whales and high-net-worth investors, liquidity is the most important factor. Since they deal with large orders, they need to calculate the slippage their sell orders would cause. Typically, the best period for whales to sell…

Bitcoin Price Rally to Over $19,800 Likely Because of “Smart Money”

Preceding the Bitcoin price pump to over $19,800 was an influx of new capital and investors, data from GlassNode reveals. The Bitcoin Price Pump The Bitcoin price has since contracted to around $19,400 at the time of writing but price action favors bulls.  After last week’s decline–that saw prices slide to $16,555 before reversing to spot rates, the entry of new investors is bullish for Bitcoin price and the crypto scene. Focus on On-Chain Activities Differentiating the current Bitcoin rally from previous pumps are bullish on-chain activities and the influx of smart money.…

Google Searches for ‘Bitcoin Price’ Hit 18-Month High

General interest in bitcoin looks to have risen alongside the top cryptocurrency’s rally to a new peak price. As of last week, Google Trends, a barometer for gauging general or retail interest in trending topics, returned a value of 21 for the worldwide search query “bitcoin price”. That’s over double the value of 10 observed roughly a month ago and the highest level since June 2019. Bitcoin set a new record high of $19,850 on Monday, having narrowly missed the previous lifetime high of $19,783 last week. The cryptocurrency surged…

Bitcoin price hits new all-time high as crypto market matures

Bitcoin (BTC) price has officially reached a new all-time high on Dec. 1 above $19,892 after nearly three years, according to data from Coinbase and Tradingview. BTC/USD weekly chart (Coinbase). Source: Tradingview.com Despite the Thanksgiving crash last week, BTC price has managed to rebound throughout the weekend. BTC then easily passed the $19,000 mark on Monday to reach its all-time high, albeit on a couple of exchanges. There are three key trends that fueled BTC’s rise from sub-$3,600 in March to over $19,892. These include the rise in institutional demand, lower selling…

This metric suggests Bitcoin price can go as high as $590K this bull run

The current Bitcoin (BTC) bull run could send BTC/USD as high as $590,000, one indicator forecast this week. Curated by on-chain analytics resource Glassnode, the Net Unrealized Profit/Loss (NUPL) index has reached a level that has historically launched the Bitcoin price an order of magnitude higher. Unrealized profit chart hits launchpad level The latest bull signal was noticed and uploaded to social media by the company’s CTO, Rafael Schultze-Kraft, on Nov. 30. At the time, BTC/USD was already making new all-time highs on several exchanges. NUPL currently resides at 0.62.…

Bitcoin Reaches New All-time High, BTC Price Surpasses $19,783

Bitcoin reaches an all-time high in three years in a 167% year-to-date increase that has been attributed to illiquid BTC and proposed regulatory changes among others. All this happened despite low publicity. Bitcoin has reached a new all-time high three years after December 2017’s $19,783 peak. According to Coindesk’s Bitcoin Price Index – BPI – as of 30 November 2020, Bitcoin traded above $19,900. This represents a 167% year to date increase. The cryptocurrency has seen a steady rise in value since March’s dip to less than $4000. The ATH…

Bitcoin’s All-Time High Price Rally Is Sustainable

While some near-term pricing correction is likely to be expected, analysts who spoke to CryptoX said bitcoin’s latest rally will be more sustainable for the long term compared with 2017, the last time bitcoin’s price hit an all-time high. One difference from the last bull run? The current market has gained support from a new wave of institutional investors mainly based in North America. “You could look at the timing of the rally, which coincided with typical U.S. market open hours,” said John Todaro, director of institutional research at cryptocurrency…

Price analysis 11/30: BTC, ETH, XRP, BCH, LINK, LTC, ADA, DOT, BNB, XLM

Bitcoin broke out to secure a new 2020 high at $19,863 and altcoins look ready to follow BTC higher. Bitcoin (BTC) price came within striking distance of hitting a new all-time high today. This shows that institutional and retail investors continue to buy on every dip and BTC is in a strong uptrend. Hence, traders should not urgently looking to call a top. While Bitcoin has been creating new records, gold has corrected about 15% from its all-time high. This shows that traders are dumping their positions and this led to…

Why Bitcoin price has not hit a new all-time high — Just yet

The price of Bitcoin (BTC) reached $19,873 on Coinbase on Nov. 30, breaking above $19,000 in a surprising recovery rally. Although many in the cryptocurrency sector a celebrating BTC achieving an all-time high, it has not just yet. On Coinbase, the price of Bitcoin hit its peak at $19,891 in December 2017. The all-time high price on Coinbase is particularly important because it has consistently remained as the top U.S. exchange for the past several years. BTC/USD monthly chart at Coinbase. Source: TradingView Also, some top global exchanges like Binance…

Bitcoin’s All-Time High Price Rally Is Sustainable. Analysts Explain Why

While some near-term pricing correction is likely to be expected, analysts who spoke to CoinDesk said bitcoin’s latest rally will be more sustainable for the long term compared with 2017, the last time bitcoin’s price hit an all-time high. One difference from the last bull run? The current market has gained support from a new wave of institutional investors mainly based in North America. “You could look at the timing of the rally, which coincided with typical U.S. market open hours,” said John Todaro, director of institutional research at cryptocurrency…