Bitcoin Price Has Strong Potential To Hit $25,000, Weekly Analysis Suggests
Bitcoin price bull run of the past few days. On December 7, 2020, the price of bitcoin hit a low of $19,030.09 which is considered to be a new all-time low.
Bitcoin can rebound as is now more evident there will be some challenges along the way. the Bitcoin price now the momentum is one of the big challenges.
Bitcoin price did reach $25,000 in late August which is a significant milestone. the graph indicates that the current market has the potential to and likely will attempt to break through resistance.
The live Bitcoin price today is $20,148.47 with a 24-hour trading volume of $39,407,651,391. Bitcoin is down 0.77% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $385,868,766,407 USD. It has a circulating supply of 19,151,268 BTC coins and a max. supply of 21,000,000 BTC coins.
The global crypto market cap is $988.81B, a 0.71% decrease over the last day. The total crypto market volume over the last 24 hours is $87.69B, which makes a 5.89% decrease. The total volume in DeFi is currently $5.88B, 6.70% of the total crypto market 24-hour volume. The volume of all Stablecoins is now $81.65B, which is 93.11% of the total crypto market 24-hour volume.\
Bitcoin’s dominance is currently 38.96%, a decrease of 0.04% over the day.
Bitcoin assessment could be followed by a 1% increase in interest rates. the bulls might maintain their position inside the range of $19226 to create momentum.
Bitcoin price shouldn't decrease below the 71.60 Fibonacci level if bears break through to the downside price will fall to $18,000.
Furthermore, pricing down a sustainable momentum for a rally should be one of the bull's top aims to surpass the $25,000 threshold.
Present market, it may be BTC touch the $25,000 barrier.
Related: Ethereum Blockchain Migrates to Proof of Stake After Completion of The Merge
