Bitcoin price is trading well above USD 19,000 and is the last stop before reaching USD 20,000 and a new all-time high. Will the cryptocurrency switch completely parabolic and into pricing mode from today without further resistance above the previous high? Or will there be a long overdue correction that will turn the vast majority of investors into profits?
Bitcoin is approaching all-time high, only moments remain when buying BTC was unprofitable
The very first cryptocurrency has been completely messed up in the last few weeks, defying gravity and becoming parabolic. From the beginning of November until now, the cryptocurrency has increased its year-to-date returns of over 150% by another 40%.
At current prices, there is only one day left – December 17, 2017 – on which the purchase of BTC was a lost investment. The unlucky few who clicked on “Buy” that night and managed to find exactly the best, have since spent every day at a loss.
Only a few hours Bitcoin traded at higher prices back in December 2017 | Source: BTCUSD on TradingView.com
But could the incredible feat on any investor in the asset who bought a day out of profit be the catalyst for the correction that has never happened before?
This is bitcoin, so anything is possible. While all of the crypto is bullish on Bitcoin and planned to hold the top for the next bull market, the current rally of disbelief has blinded everyone outside of the longest-lived veterans in space.
Related reading | Crypto Calculates: How Old Math Predicts Bitcoin’s Next Top At $ 270,000
It took a little over a month to retest for $ 10,000-20,000, and now the whole world is watching crypto again. With Thanksgiving here and the holiday as the catalyst for a bull market explosion and bubble last time, a repeat is very possible.
And it all starts with Bitcoin hitting its previous all-time high, which is around $ 19,800 depending on the exchange.
As a rule of thumb, trading Bitcoin at a price above $ 20,000 is the final signal that the bull market has started.
Featured image from Deposit Photos, Charts from TradingView.com