After Record High, Bitcoin Price Of $20,000 Imminent?

According to price chart analysis, Bitcoin is set to push its value with an increase of over $20,000 seen on the next few days.

There is no stopping the increase of Bitcoin price as the demand around $14,000 levels seen over the weekend. This fueled a fresh new high record above $17,000 yesterday.

Bitcoin is currently at $16,743 level as of press time. The world’s largest cryptocurrency by market capitalization has appreciated 0.72 percent in the last 24 hours, going by CoinMarketCap data.

There are still investors who fears price pullback which are expressed in social media. The skyrocketing of Bitcoin price is too great to be real for some investors but the pullback should not be feared. The price chart analysis says the broader outlook is likely to remain constructive.

Bull markets typically hit a point where everyone is bullish and has reached this point. Bitcoin has broad momentum, there are signals that it is not the time to invest in it just because others are doing so.

Approximately four hours after the debut, the BTC contract on the CBOE (which expires in January) spiked 20 percent and triggered two trading halts. Further, a surge of traffic to the CBOE website caused delays and outages, but failed to deter the cryptocurrency from regaining altitude.

With doors now open for many mainstream investors, Bitcoin is showing no signs of slowing down. The price chart analysis indicates the path of least resistance is on the higher side.