0
0
December 23, 2020 at 07:56AM
Bitcoin (BTC) price hit highs above $23,500 on Dec. 22 as Monday’s weakness flipped to see bulls challenge previous levels. Data from Cointelegraph Markets, Coin360 and TradingView show BTC/USD returning to positions lost over the weekend, topping out at $23,625 at publishing time. After plugging $21,800 on Monday, the markets have set a different tone today, with Bitcoin gaining over 5% and adding $1,200 in just six hours.
Macro factors combined to support Bitcoin’s appeal, with the United States Congress passing a further $908 billion coronavirus stimulus bill. “Another $900 billion dollar advertisement for Bitcoin,” Tyler Winklevoss, co-founder of exchange Gemini, summarized following the vote. Heatmap orderbook data shows that selling pressure at $24,000 and definitive resistance at $25,000 remained, somewhat dampening prospects of a stronger rally toward new all-time highs.
At the same time, Cointelegraph Markets analyst Michaël van de Poppe warned that a dip below $20,000 would not be “surprising” under current conditions. “People are focused on $19,500 for now, and I think this is a very critical level to watch, but I would not be surprised if we dip below $19,500 towards $18,500 to liquidate all the people that have taken longs at that range,” he summarized in a video update on Tuesday.
BTC price rises 5% after US Congress passes ‘$900 billion ad for Bitcoin’, Cointelegraph, Dec 23
From: The FxPro News Team https://fxpro.news/daily-forex-outlook/btc-price-rises-5-after-us-congress-passes-900-billion-ad-for-bitcoin-20201223/
Selected by fonecable.com
Search Web: BTC price rises 5% after US Congress passes ‘$900 billion ad for Bitcoin’
Recent Posts
- Crude Oil Over Crypto
- US Dollar Price Action Setups pre-CPI: EUR/USD, GBP/USD, USD/JPY
- Cathie Wood & Ark: Insiders Aren’t Buying the Hype
- Breaking News: ECB Holds Rates, Setting up July and September for Fireworks
- Currency Carry Trade: What is it and how does it work?
Average Rating