Yet another rejection for Bitcoin (BTC): the latter tries unsuccessfully to cross the last lines separating it from the 12,000 USD. The markets are not known for their patience in such decisive phases: an increase in releases could cast negative doubt among some major supporters of BTC. Today, October 14, 2020, we are putting back on the menu the various key players in the race for $ 20,000, even if BTC is struggling to get back to $ 12,000 for the moment.
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Another rejection: BTC markets are cleaning up?
Bitcoin peaked at the $ 11,550 level today; the BTC got rejected and bottomed out to $ 11,323. Bitcoin is trading at $ 11,353 as of this writing.
The BTC had peaked above $ 11,700 yesterday, October 13, 2020. A multiplication of rejections at the level of $ 11,500 and above, could make bitcoiners doubtful and complicate the climb to $ 12,000.
In the short term, the area of $ 11,100 – $ 11,300 is a major support; if the latter gave way, Bitcoin could drop below $ 11,000.
In the absence of a new ATH for the price of Bitcoin, the miners have just pushed the Total network hashrate to a new record at 144 pe / s.
Bitcoin at $ 20,000: the big players
While Bitcoin struggling to get back to $ 12,000, the $ 20,000 hoped for by the end of the year seems a long way off.
On whom the BTC can he count to make such an ascent on time:
- on a second distribution of gift certificates by the US government to stimulate the US economy while agreeing to further devalue the dollar;
- on another large company that agrees to bet on Bitcoin thus joining the rank of Square and of MicroStrategy.
Who are the people likely to prevent the BTC to reach 20,000 USD before the new year 2021:
Where will Bitcoin be tomorrow? Above $ 11,500? Below or slightly above $ 11,000? The fate of the $ 12,000 could be played out this week. Let us put an end to the suspense even if the outcome is not necessarily what we hope for. A deadline for the next altseason?
Litecoin, welcome in the Silver Age