Bitcoin Price Prediction: “New All-Time Highs By Early Next Year”.
While Bitcoin continuing its boost to a new 2020 high, one analyst indicates this is not the peak price yet, as the benchmark cryptocurrency appears poised to achieve a whole new all-time high by 2021.
In a tweet, CEO, macro trader, and Raoul Pal of Real Vision, said with Bitcoin’s recent ascent, there are now only two resistances left for doing this to break — $14,000 plus the old all time high of around $20,000.
The $14,000 level was the weekly resistance Bitcoin attempted but failed to shatter 12 months that is last . It was the real month close of Bitcoin in 2017; $20,000 was the amount that Bitcoin made an effort to break in 2017. It peaked at around $19,700 at the point in time.
The monthly and weekly charts today advise there’s further space for Bitcoin to boost.
The relative strength signal (RSI) was already at 80 when Bitcoin Price Today made an effort to shatter $14,000 year which is last. An RSI of 80 implies great overbought levels. Within the moment of this writing, Bitcoin is at $13,800 but RSI is actually at seventy one, and that is already in overbought territory but there’s still storage for a rise.
In the monthly chart, when Bitcoin shut from $14,000 in 2017, the RSI was at 97, suggesting intense overbought levels. The RSI is currently from 69, suggesting an additional possibility of a growth.
A new all time high means Bitcoin needs to be up 50 % from the current levels by January next year, Cointelegraph reported.
Bitcoin Wallet has recently benefited from a string of good news. Square, an economic company with Bitcoin advocate Jack Dorsey as its CEO, invested $50 million into Bitcoin. PayPal Holdings also recently announced that it will quickly permit its 346 million shoppers to purchase and easily sell cryptocurrency within its PayPal and Venmo operating systems. On Tuesday, accounts mentioned Singapore-based bank DBS was planning to establish a cryptocurrency exchange as well as custody products for digital assets.