Bitcoin is worth more than 12,000 dollars. It seems that “there is no such thing as bad publicity” for the cryptocurrency. Some analysts talk about BTC/USD going above one million dollars. Others see it crashing.
The publicity which includes the new records triggers a “fear of missing out” or FOMO. Even those that fear that this is a bubble may be more afraid to miss out yet another rally in this potential bubble.
The wider world acknowledges the high value of the blockchain technology but do not necessarily subscribe to this specific application of the blockchain technology called bitcoin, even if BTC is sometimes confused with the technology.
For those that doubt the recent rally, the CME will offer going short on bitcoin from Monday, December 18th, which is 12 days from now. Making it mainstream is good news for the coin, but allowing going short can also affect the price and send it lower.
What do you think?
Here is the BTC/USD hourly chart. The price was capped at $11,900 and has reached a new high of 12,300. The next big round number is $15,000. Where is the next level of resistance? The recent price action makes it hard to pinpoint.
More: On the Bitcoin Block: 7 Myths about trading cryptocurrencies
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