Bitcoin (BTC) hit its all-time high in two weeks on December 15, as new bullish action brought the largest cryptocurrency to nearly $ 20,000.
Highest BTC price since December 1
Data from Cointelegraph Markets, TradingView and Coin360 shows that BTC / USD reached $ 19,760 while trading on Wednesday.
This move reverses the bearish sentiment that marked the market only Tuesday. After Bitcoin failed to crack the resistance between USD 19,500 and USD 20,000 since the beginning of the month, Bitcoin saw lows of USD 17,550 before reversing upward.
This week, the resurgence of buyer support intensified, with Bitcoin showing a clear desire to destroy the great seller wall for $ 20,000 once and for all.
As Cointelegraph noted, Bitcoin stands in the way above $ 20,000 as it hits uncharted territory, with only small sales planned at higher levels, data shows.
“#Bitcoin breaks above the resistance zone, which is close to a new record level. Bullish! Cointelegraph Markets analyst Michaël van de Poppe summed it up Twitter followers about the latest movements.
However, you would like this red zone of $ 19,400–19,500 to be used as support. When that happens, the price could go up to $ 20,500–21,000. “
Quantitative analyst PlanB meanwhile suggested that reports from the United States agreeing on a $ 900 billion coronavirus stimulus package contributed to Bitcoin’s gains.
At press time, Bitcoin circled $ 19,700 as volatility continued to increase over short time frames. Stock markets also went up that day.