On Monday 30th November 2020, Bitcoin made the new and long-awaited all-time-high for 2.95 years, but the new high was not sustainable and I've been looking at Bitcoin bull-trap and I've recorded profits.
This moment is busy again, but the volatility character of cryptocurrency can never be overemphasized.
Bitcoin ATH 2020
The creation of Bitcoin in 2009 surged above its previous peak of December 2017 with a gain of 177% ($19,857.03) between December 2017 and 30th November 2020.
For newbies to crypto, here is a little info about Bitcoin:
An essential digital currency is a cryptocurrency that has a decentralized database (blockchain) that record all currency transactions. Bitcoin is different from other currency because it has advantages of no primary owner (like a bank), but instead a network that anyone can join, which powers the currency.
Bitcoin has gained over 1,300% in 2017 which made crypto enthusiasts called that moment a “wild run,” which cut attention of many celebrity endorsements including Floyd Mayweather and despite the fall of this coin to above 80% from its peak still, it’s the world’s most popular cryptocurrency.
The question is, where will the price of bitcoin be by the end of this year?
Bitcoin is around 19,300 where it has been for the last few days now we did see an almost 20k hit and we see a display of big sell-off, which means bitcoin is not just going to break through to ATH that easily. The whales won't let that happen because they want to get as much bitcoin at a lower price as they can so they are going to push the price down. Unfortunately, manipulation is such a big part of bitcoin and cryptocurrency, hopefully, this may change later but right now we've got to play the game and we have to understand those big players have money which they can use to move the price to any position they wanted.
The above figure display BTC price might hit 21k soon and even go beyond 21k to 28k. This is valid reasoning but seems impossible.. lol... Like I'm confused.
What do you guys think about the Bitcoin price?