Bitcoin shoots through $19,000, all time high in sight

For a moment it seemed as if the altcoins would steal all the attention but nothing could be further from the truth. Bitcoin breaks through USD 19 000 for the first time. With this, bitcoin reaches its highest value this year.

Record in sight

The record of almost USD 20 000 is getting closer and closer. Since September, bitcoin has been in an upward trend, as you can see on the chart below. The price is moving exponentially upwards, the trend line is becoming more and more slanted. This is also called parabolic. Can bitcoin maintain this parabolic trend? Then a record high of almost $20,000 may be possible by the end of this month.

On the way to $20,000?

The exchange rate has now broken out of this ascending triangle, which is very positive. The price target in the event of an outbreak is the same as the opening on the left, which means that bitcoin can prepare for an increase to $20,000 and higher. That is the absolute record, at Bistamp the exchange rate has never risen above USD 19,670 (EUR 16,540).

What do we expect from bitcoin?

Bitcoin is very close to a record, but anything can happen. In order to prepare for everything, we therefore describe two scenarios. A bullish scenario for the racial optimists, and a bearish scenario for those who prefer to see the price fall.

Bullish
If bitcoin remains in the parabolic trend, the all-time high of $19,670 (€16,540) comes into the picture. This is the green line on the graph.

Bearish
But when bitcoin falls, the exchange rate can again find support at USD 18,000 (EUR 15,134), the orange line on the chart. Below that, $16,600 (€13,957) is another important support point.

Will there be a large correction of more than 20%? Then we need to keep an eye on USD 14 000 (EUR 11 771). This corresponds to the highest exchange rate of 2019, but also to the highest monthly closing in December 2017.

You may also like...