Can Bitcoin (BTC) climb to the $ 25,000 level before it experiences a major correction? BTC continues to hit new all-time highs for the time being. The markets are euphoric, the 20,000 USD are making people happy, especially the early minors who are now millionaires.
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We continue to conquer new ATHs
Bitcoin climbed above $ 23,600 today, December 17, 2020. While its magnitude is significant, the rise was not punctuated by major corrections.
The BTC is trading at $ 23,160 at the time of writing. Bitcoin is currently registering a daily gain of over 12.5%, which is an amount of over $ 2,590.
The daily RSI (14) stands at 77 showing a Bitcoin now overbought on a daily basis. The weekly and monthly RSI (14) are 84 and 77.
Bulls are in charge, technical analysis predicts an imminent bullish reversal.
The crossing of 20,000 USD and the market euphoria that accompanies it, however, could bring the price of BTC at higher levels, before undergoing correction.
The first miners now millionaires
Data from Glassnode show an explosion in the number of addresses BTC holding at least $ 1 million in Bitcoin.
The early miners – with 50 BTC received as block rewards – who have HODlés their BTC year after year are now millionaires with a Bitcoin crossing $ 20,000 on December 16, 2020.
Bitcoin barely broke through the resistance of $ 21,000 – $ 22,000 today, but the statistician Willy woo already has its eyes on the $ 55,000, the next big benchmark on the $ 100,000 road – the 100,000 USD being a “ridiculously” low target for Woo given the current trajectory of the BTC.
Can we still lose the 20,000 USD in the next few days? Should we fear a crash during Bitcoin’s next major correction? Are we witnessing a “mini-bubble” that will soon explode? What will be the next major resistance level? Will the crossing of $ 20,000 and the current rise above $ 23,000 lead to a massive influx of new investors? It is certainly too late to become a millionaire by being an early miner, but it is not yet to make an investment whose value will be multiplied by 5 if PlanB’s forecasts come true.
Litecoin, welcome in the Silver Age