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BTC $43329.55 (1.18%)
ETH $2993.37 (1.34%)
USDT $1.00 (-0.0%)
BCH $515.66 (-0.7%)
BSV $129.88 (-3.8%)
LTC $150.73 (-2.6%)
BNB $345.35 (-2.7%)
ADA $2.26 (-3.6%)
DOGE $0.20 (-2.9%)

Bitcoin Price Now Above $27K, All Eyes Set on $30K Level

Bitcoin Price Now Above $27K, All Eyes Set on $30K Level
  • Bitcoin has broken above the $27,000 price level. This is another all-time high.
  • At the time of writing, Bitcoin is changing hands at $27,607.86, according to CoinGecko.
  • Bitcoin’s next big target is $30,000.

Bitcoin has broken above the $27,000 price level, and is possibly on the way to approach $30,000 soon. This marks a new all-time high (ATH) record for the prime cryptocurrency.

BTC 50-day EMA, 200-day SMA, and RSI (source: TradingView)
BTC 50-day EMA, 200-day SMA, and RSI (source: TradingView)

Bitcoin price exceeded its 2017 ATH just this month. Despite a number of failed attempts, BTC finally broke through $20K and is now rallying up to $27K. At the time of writing, Bitcoin is changing hands at $27,607.86, according to CoinGecko.

Interestingly, Bitcoin only broke above $25,000 on December 26. The 50-day exponential moving average (EMA) at $24,000 reflects how abrupt the recent increase is. Meanwhile, the 200-day simple moving average (SMA) is only at $20,000.

Now that BTC is well above the said psychological resistance level, the new big target is $30,000. This may take a bit of time before BTC tests $30,000, as the relative strength index (RSI) shows that BTC is overbought at the moment. If traders choose to sell, BTC may undergo a short consolidation period before it attempts to hit $30K.

Meanwhile, Bitcoin bulls made a range of BTC price predictions for 2021. In a poll by finder.com, a huge majority of panelists believe that now is a good time to hold (43%) and buy (46%) BTC. Also, a Citibank Bitcoin price prediction 2021 claims that BTC may be worth $318K by the end of 2021.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.