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New all-time high for the bitcoin price: $22,000
New all-time high for the bitcoin price: $22,000
Bitcoin

New all-time high for the bitcoin price: $22,000

By Marco Cavicchioli - 17 Dec 2020

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Today the price of bitcoin reached a new all-time high, surpassing $22,000.

It even looks like it is pushing towards $23,000 as the day progresses, although that mark has not yet been reached. 

The fact is that, after breaking through the $19,900 barrier yesterday to set a new all-time high, it is not finding any further barriers to stop it from rising in the short term. 

According to some analysts, the next resistance could be at $24,000, but according to others, the price at this stage could go as high as $25,000. 

Compared to the level reached yesterday morning, just below $19,500, the gain so far has been over 15% in less than 24 hours

The climb of Bitcoin’s price to $22,000

This is a real parabolic climb, for which it is difficult to envisage a long duration. 

Among other things, the month of December began with a price of around $19,300, then dropped below $18,000 on December 11th, and returned to $19,300 two days later. Since then it has been just under $19,500 for about three days, before literally exploding in the last few days. 

It should be noted that during the month of November the price had already increased by 40%, given that at the beginning of the month it was still below $14,000, and that considering today’s increases, it has now risen by over 210%. 

To be fair, until mid-October the price increase had not followed a parabolic trend, going from $7,200 to $11,500 in nine and a half months, but since October 21st it has literally shot upwards, first with a leap to over $13,000, then with a second that took it above $15,000, followed by a third that allowed it to exceed even $19,000, and a fourth that is still in progress. 

Although it is difficult to guess where and when it will stop, there are some parameters that suggest that sooner or later the uptrend may stop, triggering a retracement. However, not only is it difficult to imagine precisely when and where the uptrend might stop, but it is even more difficult to imagine when a retracement might be triggered, and to what level it might bring the price down. 

 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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