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Bitcoin breaks records, what happens next, Coinbase IPO: Hodler’s Digest, Dec. 13–19
The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more one week on Cointelegraph in one link!
Years of price falls and drama followed. Nonetheless, believers remained confident that one day,
one day,
And on Dec. 16, 2020, that day finally came. In quick succession, BTC smashed through
$20,000,
$23,800. This stumbling block was eviscerated over the weekend when BTC headed above
$24,000.
In an extraordinary run, Bitcoin’s price has surged by more than
On-chain analyst Willy Woo has proclaimed that $55,000 is the next landmark for Bitcoin to reach asserting that $100,000 is a “ridiculously low” target. Meanwhile, Quantum Economics founder Mati Greenspan believes “things are just getting started.”
Market Analysis
The Bitcoin price (BTC) has surpassed the $21,000â$22,000 resistance range to rise above a new high of $23,000 on Dec. 17. Meanwhile, on-chain analyst Willy Woo now says $100,000 is a âridiculously lowâ target.
BTC/USD weekly chart (Bitstamp). Source: Tradingview
The $21,000 level was particularly important for Bitcoin to continue its rally in the near term. Exchange heatmaps showed stacked sell orders at around $21,000 to $21,500, which meant BTC price had to break through to see a broader uptrend.
The Bitcoin Top Cap Model puts $100,000 as a conservative target. Source: Woobull.com
Bitcoin enters price discovery
Exchange heatmaps show no visible resistance levels and areas with large sell orders above $22,000. In the short term, this means the probability of BTC continuing its rally is high.