$18,000, the Bitcoin price continues to rise towards $20,000!
If Bitcoin BTC price was close to $17,000 yesterday, the Bitcoin price has already exceeded $18,400 on Kraken!
An impressive rise in the price of BTC which it is not yet clear at what level it will stop in order to correct.
A BTC price which is therefore now very close to $20,000, its highest reached a few years ago.
A rapid rise that of course surprises analysts even if Bitcoin is currently enjoying a lot of positive news such as the integration of cryptocurrencies on PayPal, institutional investors who are more and more numerous to buy and invest in Bitcoin.
At this speed, the Bitcoin price could therefore reach $20,000 by the weekend if it does not stop along the way.
This parabolic increase of course raises fears of a severe correction to come in order to digest such a rapid progression.
It is common for Bitcoin to see corrections of 30% even in a bullish cycle like during its last bull run in late 2017.
A rise in the price of Bitcoin mainly due to institutional investors, it is not yet euphoric among retail investors even if some are starting to buy BTC.
The symbolic threshold of $20,000 could rally the general public as well as those who had bought at the ATH of 2017 and who will discover that Bitcoin is indeed not dead as we can often hear.
2021 should therefore see new highs for the Bitcoin price, the predictions range from 100,000 to 300,000 dollars for the most optimistic.
The integration of BTC and Ethereum in PayPal is therefore expected to be generalized to all platform users around the world next year, which should boost demand for BTC or ETH tokens.
A Bitcoin price which should therefore easily return to its high of $20,000 soon and continue its course in the months to come.
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Altcoins await their turn
All attention is focused on the number 1 cryptocurrency on the market, Bitcoin.
The top 10 altcoins have seen price progression following BTC in its tracks but we are still far from the highs of 2018 for cryptocurrencies like Ethereum, Litecoin, Bitcoin Cash or Ripple XRP.
The price of ETH token has yet to return to its peak of 1430 dollars, the price of Ripple XRP climbed to $3.84 in January 2018, the price of Litecoin LTC reached 375 dollars at the end of 2017!
Regarding small caps such as Civic (CVC), Waltonchain WTC, etc., these cryptocurrencies are still often at -90% of their prices at the end of 2017 and we will therefore have to wait for a renewed interest in these small market caps so that they regain their highest prices in the past.
Some blockchain projects did not survive the bear market like Substratum and others.
Still, this rise in the BTC price allows the altcoin market to be in the green.
Ethereum price is only a few dollars from the symbolic figure of $500.
Ripple XRP price stable at $0.30!
Litecoin LTC price rises to $75.
The Yearn Finance (YFI) price is almost $23,000.
The LINK price exceeds 14 dollars.
The Cardano ADA price at $0.11.
The BNB price at $28.57.
As an altcoin market tries to follow the price of BTC in its tracks, it will be necessary to wait for volatility and euphoria to subside for the Bitcoin price before seeing altcoin prices take off afterwards.
The meteoric rise in the Bitcoin price also portends an upcoming correction where speculators will take profits in order to take advantage of this rapid rise in the price of Bitcoin.