Bitcoin trying to find its feet again – up 7% as volume picks up


Bitcoin is the poster-child of cryptocurrencies. It’s ascent above 10,000 dollars triggered a lot of attention and it soon conquered more and more milestones. When bitcoin futures were introduced to the CME, the price was already close to $20K. But later that week, just before Christmas, bitcoin broke the hearts of many, falling as low as $10,400 before rebounding.

Over the holiday season, bitcoin stabilized and so did its peers. However, most digital coins did not go anywhere fast. The one exception was Ripple. XRP/USD jumped from $1 to nearly $2.5 before stabilizing above $2. Perhaps more importantly, the market capitalization of Ripple surpassed Ethereum in second place.

Bitcoin was somewhat overshadowed, somewhat licking its wounds. And while trading in cryptos continues also on weekends and also on holidays such as Christmas or New Year’s Eve, it really woke up now. BTC/USD is up nearly 10% and trades just under $15K.

Can it continue higher and challenged $20K once again? Will it continue leaving all the other digital currencies behind? Or will we see a “flippening”? Despite the upbeat price and the current dominance, the issue of slow transactions will eventually need to be resolved.

The next level of resistance is $15K, but that is only a psychological one. A stronger cap is $16300 that stopped the pair before the recent fall. Above that, we find $18,135 and of course, 20K.

Looking down, we can see $13,200 and $12,500.

More: Will the next big bitcoin rally come at Bitcoin Cash?

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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