n Those who were involved with digital currency at the beginning of the year will never forget 2017. Bitcoin has surged from under ,000 to ,000 in just less than a year.n
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Bitcoin Price Breaks $20,000 on CEX.io Exchange
It seems like the trend of consecutive all-time highs isnt stopping anytime soon, as Bitcoin has sailed over ,500 and has its sights set on ,000. Bitcoin Breaks the ,000 Barrier On CEX.io, a popular Bitcoin exchange, the price of just one bitcoin has broken through ,000 with no signs of stopping. This may seem insignificant, as it only one exchange, and on top of that, weve seen Bitcoin prices skyrocket over the market pricenRead MorenThe post Bitcoin Price Breaks ,000 on CEX.io E
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Bitcoin Price Weekly Analysis – BTC/USD Upside Drift Above $20,000
Key Points
- Bitcoin price is gaining pace once again and is currently trading above ,000 against the US Dollar.
- There is a monster bullish trend line forming with support at ,000 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
- The pair is moving higher and it might soon break the ,000 level for more gains in the near term.
Bitcoin price is surging higher towards ,000 against the US Dollar. BTC/USD might soon break the k level and gain further traction in the near term.
Bitcoin Price Trend
There were nasty gains in bitcoin price above the ,000 level against the US Dollar. After a major correction, the price found support above ,000. Later, buyers gained momentum and were able to push the price above the ,000 level. It opened the doors for more gains and the price was able to trade to a new all-time high above ,000. The recent high was ,426 and it seems like the current upside move is far from over.
During the upside move, the price was able to break a major connecting resistance trend line at ,000 on the hourly chart. The current price action is positive above k and it seems like the price might continue to move higher. On the downside, an initial support is around the 23.6% Fib retracement level of the last wave from the ,590 low to ,426 high. Moreover, the broken trend line at K could act as a strong support in the near term.
Moreover, there is a monster bullish trend line forming with support at ,000 on the 4-hours chart of BTC/USD. Therefore, the current trend is very positive and the pair might accelerate above K in the near term.
Looking at the technical indicators:
4-hours MACD – The MACD is gaining momentum in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is reaching the overbought levels, but with no signs of a major correction.
Major Support Level – ,000
Major Resistance Level – ,000
Charts courtesy – SimpleFX
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Bitcoin price Approaching $20,000 – Market Value Passes Bank of America
I really wanted to write about a cryptocurrency other than Bitcoin today. But Bitcoin price just won’t give us a break! After reaching a new high above ,000 on Wednesday, the market decided to break yet another record. Testing almost ,000 on Thursday!
Bitcoin Price Action
Bitcoin price sure did erase some of the gains at the end of the day. But it started Friday’s trading session on yet another bullish momentum.
![Bitcoin Price Tests Near 20000 - Daily Chart](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/12/Bticoin-Price-Tests-Near-20000-Daily-Chart.png)
At the pace the Bitcoin price bubble is growing, it appears we may not even see any point in counting on periodic pullbacks to any psychological market levels.
But if Bitcoin price were to test a support level after these massive gains, it might be the 23% Fibonacci retracement level ,425.
Bitcoin Market Cap
As the king of cryptocurrencies, Bitcoin’s 7B market value has now passed Bank of America’s 8 billion. So basically, if we were to compare Bitcoin to the largest companies in the US by market cap, it would rank number 11 right after JPMorgan Chase and Exxon Mobil.
But is this enough for investors to keep pouring money and investing in Bitcoin?
Bitcoin Investment Strategy
Bitcoin backers view it as a currency and payment system of the future as well as a new kind of investment. They say it’s an emerging alternative to the USD, euro and yen and an investment such as gold, stocks or bonds.
Skeptics say Bitcoin is impossible to value, wildly volatile and a speculative play that may never gain widespread acceptance.
Should You Invest in Bitcoin?
This really depends on your personal risk tolerance, current financial situation, and future goals.
But even if you are an investor of high-risk appetite, at this point I would recommend thorough risk management ahead of time.
Personally, I believe we could see the ,000 price level for Bitcoin before the bubble bursts. However, for all Bitcoin investors out there, it is important to set target limit orders and at least take partial profit as the Bitcoin price goes higher.
This way, they will be able to manage the risk of a potential Bitcoin bubble burst.
Needless to say, and as we always recommend to all traders, only invest the money that you can afford to lose!
xoxo
Kiana Danial
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Bitcoin price Approaching $20,000 – Market Value Passes Bank of America
I really wanted to write about a cryptocurrency other than Bitcoin today. But Bitcoin price just won’t give us a break! After reaching a new high above ,000 on Wednesday, the market decided to break yet another record. Testing almost ,000 on Thursday! Bitcoin Price Action Bitcoin price sure did erase some of the gains … Continue reading Bitcoin price Approaching ,000 – Market Value Passes Bank of America
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