- 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.
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.