The very first cryptocurrency, bitcoin could consistently absorb pressure at significant points. Growth to $30,000
A bullish contract triangle shaped with a resistance of $26800 was broken earlier. Even so, increased bearish pressure has driven BTC down to nearly $26,500 in support.
This might lead to a break-up of the lower level of support. That’s why it’s so critical for the bull traders to survive the bears in the next two weeks. If this happens, it’s going to be quick to get $30,000 for 1 BTC.
Users on Twitter are talking a lot about the possibilities that bitcoin opens up. Some assume that a fall to $20,000 is possible to re-test the previous all-time high.
Others, including Vijay Boyapati, write that there’s a bullish rally ahead of us. The explanation for this is the involvement of institutional investors in BTC. It is written in his tweet that it took Bitcoin 8 years to increase its price by $2000, and in recent weeks, Bitcoin has increased its price by 2000 every hour.
In his view, the maturation of the market is behind the current rally. Thanks to the entry of the major investors. The $30,000 road is open. Considering how Bitcoin whales became more active in 2020, this does not seem so odd.
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