Bitcoin has been through an incredible run in recent months. The price rose above the coveted $ 20,000 mark in early December and shows absolutely no sign of slowing, with a current high above $ 28,000.
Bitcoin price on steroids
Less than three months ago, the price of bitcoin was slightly above $ 10,000 and it is unlikely that anyone could predict what followed.
In October, the price started to rise and, before we knew it, it had dropped below $ 20,000. It was in mid-December, however, that things started to become parabolic.
In the past 10 days alone, bitcoin has gained about $ 9,000 in dollar value and has reached its all-time high above $ 28,000, with no signs of slowing down.
Things look even more impressive when you zoom out a little further. Bitcoin has risen 650% since March lows and just 300% in the year.
Now, analysts are taking turns asking for the next short-term goals, as we continue the march on price discovery.
$ 30K and $ 36K are next, says analyst
As bitcoin is traded in unfamiliar territory, reference points are missing to help us identify the following targets.
Well-known analyst and trader Alex Krüger, in his last Twitter entry, discussed some possibilities about the next destination of the bitcoin price.
“When an asset is being traded at all-time highs, there are no reference points from the previous trading history to use as levels. In that case, traders look at the Fibonacci key numbers and extensions. The BTC levels traders are looking at now are 30K (round number and fib) and 36K (fib). “
Of course, as always, it is important to be especially careful. In the past seven days alone, BTC has risen more than 20% and a correction is not out of the question.
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