After a historic day of headlines that barely keep up with price changes and bitcoin reaching a full-time high of over $ 26,500, traders and analysts are now focusing on what digital currency can expect in the next five days, as 2020. nears its end.
While daily gains of 8-9% may be insignificant compared to Bitcoin’s historical volatility – it was a 42% rally in 2019, as Messari founder Ryan Selkis pointed out, today’s rally saw only a second light at $ 2300. In the history of digital currency :
Some traders may have become euphoric as they are already looking at daylight that blocks five numbers:
Screaming for $ 30,000
Positive obstacles await Bitcoin’s next move. Bitcoin is currently trending on Twitter with 164,000 recent tweets – comfortably surpassing the second most lucrative archaeological find of street food in the ruins of Pompeii.
In addition, as the Cointelegraph previously reported, this latest rally has put Bitcoin back on track as indicated by the popular Stock to Flow (S2F) pattern which predicts a price of around $ 300,000 by 2024.
Another popular calculation showed that bitcoin mania still has a long way to go to reach the peaks in 2017. According to Google Analytics, the search history for the question “Bitcoin” is barely one-fifth of all the highlights:
Together, the positive sentiment and the corresponding price movement are causing more and more traders to claim the “30,000 on 30” price of $ 30,000 on December 30:
An explosion from above?
Despite positive sentiments and price actions showing that Cape Canaveral is a sin, some traders are already building up potential short positions. A trader calls for an explosive summit over the next two weeks:
While he still represents the spirits of the minority, he is not alone and believes that it may be a mess in the future of Bitcoin. The $ 2.3 billion futures contract expired on Christmas Day, which has historically led to market volatility.