Cryptocurrency

These 2 hurdles to be taken

The Bitcoin exchange rate does not leave his followers are currently in the lurch. Since the beginning of the year, this puts on a rally that has no equal. The only times Bitcoin in a comparable upward trend in the economy were the Bullrun in 2017, when the rate shot up to 20,000 USD and the rise of the last year of just over $ 3,000 to almost $ 14,000. But how can the current Momentum is coming at all? Possible explanations are many: the next Halving in may, a perhaps the approaching economic crisis or the spread of the Coronavirus. Most likely is a mix of several of these factors. After this week for Bitcoin so far was very successful and the price could exceed a critical mark, separate BTC now only 2 more hurdles to a possible new all-time high (ATH). We explain to you what they are.

Bitcoin Exchange Rate Breakthrough 2.0

Anyone who has followed the Bitcoin exchange rate this week, it will have noticed. BTC is back above the critical level of 10,000 USD. After already on Sunday, there was only a day later, a small relapse in the direction of 9.700 USD.
Tuesday, there was a Pump in the Bitcoin within a short period of time, several hundred dollars in the height of shot. Since the rate remained in the 5-digit range. It seems that the $ 10,000 had become the limit of a resistance to a support. Some are already convinced that we will never again see a 4-digit Bitcoin exchange rate.

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2 hurdles still waiting for BTC

In addition to the joy about the latest developments, in these days, many Bitcoin Fans, but also the question of where the journey will go on. A relapse is coming back under the 10k mark? Maybe for the last Time? Or the journey is only now really going on and after the Halving, there is no stopping?
We at crypto Monday of God have, of course, unfortunately, no crystal ball. Nevertheless, an analysis of the Charts shows that Bitcoin could only be 2 hurdles of a new all-time high. For this purpose, we look at the BTC Chart on a Monthly basis. On the following screen, a bar represents a month. More precisely we look at here are the top rashes (wicks) of the beams, but the upper end of the bar (Candlestick body). The black lines show these limits.

To see is that Bitcoin is relatively short in front of the High, the BTC on a Monthly basis in June 2019 reached. This was just about 10.700 USD, of which the current course is approx.10 ‘ 300 USD not far away.
Bitcoin should be able to clear this hurdle, break through and this month is about 10.700 USD stop, wait, then the last hurdle. This is located at about 13.900 USD, which corresponds to the closing price of December 2017, so the last Bullrun.

And then?

Here it must be mentioned that the highest ever rate is at $ 20,000. Bitcoin should be able to, however, overcome the above-mentioned limits, is then likely to be on the way in the direction of USD 20,000 and a new all-time high no more.
In combination with the upcoming Halving in may, an interesting combination here. In the past it was so that Bitcoin constructions before the Halving, although Momentum, but then new highs could reach. After Reaching a new ATHs of over $ 20,000, the interest of the Public, would be likely to increase again, and some for FOMO to worry about. So, we can only speculate, but still high-be interesting to see what the next weeks and months.

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The comments in this article do not constitute investment advice.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.