Bitcoin climbs to $ 28,400 and then drops suddenlyOn 28. December 2020 by admin
The Christmas climbing party is briefly interrupted by a sudden crash, but Bitcoin is already looking at 30,000 US dollars.
On December 27th today, Bitcoin ( BTC ) climbed to a new record high of $ 28,400 before a sudden crash ensued.
$ 1,900 loss in minutes
As the data from Cointelegraph Markets , Coin360 and TradingView show, Bitcoin only climbed sharply on the Sunday after Christmas, only to lose large parts of the gains in just a few minutes.
After a daily profit of up to 15% was achieved, there was heavy selling pressure above the 28,000 US dollar mark. In the end, the upswing was unable to withstand this, causing the price to drop to a low of $ 26,500.
At press time, volatility remains around the $ 27,000 mark, making it difficult to see where we’re going next.
Analyst: “Record run of record runs”
As Cointelegraph had already reported today , Bitcoin has reached several new milestones with the price jumps of the last few days. The market-leading crypto currency cracked a market capitalization of 500 billion US dollars for the first time yesterday.
In addition, the largest futures gap that has ever existed for Bitcoin should arise on Monday.
Since the resistance at US $ 24,000 could be jumped, BTC has been moving in uncharted waters because there is no more arithmetical resistance upwards. Resistance can only arise through natural selling pressure.
Since institutional investors are currently slacking off a bit, the focus is shifting even more towards private investors in order to maintain the upward trend of Bitcoin.
“The record run among the record runs has begun”, as Cointelegraph Markets expert Michaël van de Poppe sums up the current situation optimistically on Twitter .
In this regard, he sees the area around $ 19,500 as a possible zone for a possible return, whereby the altcoins would benefit from such a scenario .
The order book of the market-leading crypto exchange Binance suggests that the next big selling pressure is likely to arise at the $ 30,000 mark.