Bitcoin hasn’t even reached the current highs ever in the past. It has now successfully broken above $30000 marks and trades nearby $30600 as of writing this article. In a day BTC has gained about 3.81% in value with its current market cap above $561 Billion.
This is the very first time that Bitcoin Investor & Trader is noticing. The daily trading volume is the highest in the year & we hope that BTC can make its way up to $50k this 2020.
Many traders are looking forward to Bitcoin to reach the $50000 mark sooner than later. Investors are looking clearly for BTC to reach $50k as it puts BTC at a $1T market cap (round figure).
There can also be another problem that can be faced by the exchange – this would be a supply shock. There can be a lesser amount of BTC held at an exchange which can cause a supply shortage. When the shift eventually happens it will be fast due to the supply/demand imbalance being created right now.
The current BTC dominance is at 71.88.
What we are seeing right now is Bitcoin going parabolic. But, this is not all it is going parabolic since its last parabolic advance.
We in 2020 already saw Bitcoin hitting the $3700 mark since which Bitcoin has made about a 700% bull run. So, if you are looking at where this Bitcoin price is going here is an article you can read – Bitcoin Price Prediction 2021.
Altcoin currently has been stalled due to the current huge movement by Bitcoin. So, until BTC calms down the altcoin will bleed. The only point to watch for any further downside is $28923 as it the monthly & yearly open for 2021.