Etter det siste stupet til $ 16,1 000, har Bitcoin gjenopprettet seg og nesten på $ 18 000 igjen etter å ha sunket nær $ 15 000 dollar, og tetter seg nærmere hele tiden på rundt $ 20 000. Den digitale eiendelen ser ut til å være ustoppelig de siste par ukene, og klatrer høyere hver eneste dag med bare noen få retracementperioder.
One of the main sparks of this new run was the support of cryptocurrencies by PayPal, one of the largest payment providers in the world.
The volatility in the cryptocurrency market is extremely high right now with some altcoins jumping up and down by more than 20% within hours. One of the most prominent examples is XRP which had a wild 163% run in the past 5 days to reach a high of $0.78.
The market capitalization of Bitcoin recently reached $353 billion for the first time ever, surpassing JPMorgan’s at $352 billion. Jamie Dimon, CEO of JPMorgan has been a prominent critic and hater of Bitcoin and cryptocurrencies in general calling them a ‘fraud’.
Bitcoin has been outperforming pretty much almost any other asset in the market like Gold, the S&P 500, and other mainstream investment options like Commodities or US Treasuries.
Bitcoin was dominating the market but has lost a good chunk of its percentage from a peak of 66% on November 19 to a current low of 61.8% as other altcoins like XRP, ETH, and LTC have rallied as well. The total market capitalization of the market excluding Bitcoin has jumped by $57 billion in the past week, indicating that perhaps the ‘altseason’ is coming back as BTC’s dominance dwindles.
Bitcoin seems to be only facing one major barrier at $19,891 on Bitfinex and similar prices on other exchanges. Cracking the all-time high could be a major spark off the next FOMO wave, potentially pushing Bitcoin’s price towards $25,000.
Neither the MACD nor the RSI is as high as they were back in 2017 during the last bull rally, indicating that perhaps BTC price has a lot more room to grow despite being close to the all-time high.