Bitcoin price is now just moments away from setting a new all-time high
The price of Bitcoin is trading well above $ 19,000 and is the last stop before hitting $ 20,000 and setting a new all-time high. With no further resistance above the previous peak, will the cryptocurrency go completely parabolic and enter price discovery mode starting today? Or will a long-awaited correction unfold by the vast majority of profit-seeking investors?
Bitcoin is approaching an all-time high, only moments left when buying BTC was not profitable
The first cryptocurrency is in full tear, defying gravity and going parabolic in recent weeks. From the beginning of November until now, the cryptocurrency has added another 40% to its annual returns of more than 150% to date.
At current prices, there is only one day left, December 17, 2017, in which buying BTC was a lost investment. The unfortunate few who pressed “buy” that night and managed to shoot exactly the top, have spent every day wasted.
But with every investor with the asset who bought any day outside of that time with a profit, could the incredible feat be the catalyst for the correction that has never come so far?
This is Bitcoin, so anything is possible. While all cryptocurrencies are bullish on Bitcoin and had planned to hold onto the next peak of the bull market, the current display of disbelief stunned everyone outside of the longest-serving veterans in the space.
A retest of $ 10,000 to $ 20,000 took a little over a month, and now everyone is looking at crypto again. With Thanksgiving coming up, and the holidays acting as the catalyst for an explosion and a bull market bubble that happened last time, there is a good chance a repeat.
And it all starts with Bitcoin pulling out its previous all-time high, which is set at around $ 19,800 depending on the exchange.
As a good rule of thumb, watching Bitcoin trade above $ 20,000 will be the final sign that the bull market has started.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.