Bitcoin (BTC) is consolidating above $ 19,000, another way of saying that it still cannot reach $ 20,000 but, that the bulls manage to defend the $ 19,000 despite the various rejections in the $ 14,000 level – $ 15,000. Donald Trump will soon be leaving the White House, but the new tenant should continue to abuse the dollar, and boost the price of Bitcoin.
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Failing to be there, we project ourselves above
The rise of Bitcoin was once again stopped by the resistance zone of $ 19,400 – $ 19,500 today, December 7, 2020. The rejection has driven the price of BTC to 19,000 USD. It is trading at $ 19,021 as of this writing.
If the bears seem to have lost strength, unable to shoot Bitcoin at levels near $ 18,000 they continue to form a solid block at the $ 19,400 – $ 19,500 level, preventing bulls from passing.
The trader Rakesh Upadhyay indicated on Cointelegraph that if the bulls managed to finally cross this zone and reach 20,000 USD, Bitcoin would target $ 21,140, then $ 23,043.
US debt is exploding, Bitcoin also in the near future?
Bitcoin can count on Joe biden to continue the dollar devaluation work carried out by its predecessors.
Biden announced that it is planning a $ 7 trillion stimulus package, which will further inflate the amount of US debt which has already increased significantly in 2020.
But even before Biden is invested president of the United States, the debt is expected to increase even more with a senate which hinted yesterday, December 6, 2020, that a new stimulus package costing nearly $ 1 trillion could very well be voted on today ‘hui.
A depreciation of the dollar could once again give a boost to Bitcoin and finally allow the bulls to touch the 20,000 USD.
Bull BTC Trump goes away, bull BTC Biden replaces him: the dollar is not lucky enough to have a Satoshi Nakamoto as a daddy. Bears are too weak to pull Bitcoin to the $ 18,000 level, bulls are too weak to break through $ 19,400 – $ 19,500. We now wait for a weakening dollar to finally hope to see a strong BTC at $ 20,000.
Litecoin, welcome in the Silver Age