Bitcoin (BTC) regains color today, December 22, 2020. BTC reclaims $ 23,000, but does not seem ready to attack its current ATH above $ 24,000 yet. Bitcoin enjoys strong support from elected officials in the United States. Will Santa Claus bring green candlesticks to the bulls or will he prefer to jump into the bear den?
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Congress foots the bill for the bulls
Bitcoin is down to the level of $ 22,400 today. The BTC then climbed back above $ 23,560. It is trading at $ 23,467 at the time of writing.
The BTC Currently experiencing a daily increase of about 3%, representing approximately $ 680 daily gain.
Bitcoin Today is benefiting from the US Congress decision to allow the $ 908 billion bill to stimulate the economy.
Sell orders show strong bear pressure at the $ 24,000 level. The bulls will also need to break resistance at the $ 25,000 level for a resumption of the bullish rally.
Michael van de Poppe does not rule out the possibility of a fall below $ 20,000 at this time.
Have they been good in 2020?
Will Santa Claus reward bears or bulls? As Christmas approaches, Bitcoin benefits from 2 major supports.
On the one hand, the BTC benefits from the impacts of the recent massive purchase of Bitcoins by MicroStrategy and on the other hand, the 900 billion dollars “offered” by Congress in support of the economy and Bitcoin. The FED could follow suit by announcing new uses of printing money.
The BTC shows for the moment its resilience to bad news from theEngland, as to the health situation.
The simultaneous start of the vaccination campaign for European countries could reassure investors and benefit traditional financial markets and cryptocurrencies.
1 BTC at 25,000 USD on December 25, 2020: If only it were that easy. The eye of bitcoiners must now be on the dollar; a devaluation of the greenback by Christmas Eve would be a nice gift for the bulls. The risk of falling below $ 20,000 has still not been ruled out; will vaccination campaigns announced in northern countries immunize BTC against falling below $ 20,000? The coronavirus has not yet said its last word, however, caution!
Litecoin, welcome in the Silver Age