Comparing the current performance of Bitcoin with the year 2017… Will Bitcoin do it and break through the $20,000 level?
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Answer Comparing the current performance of Bitcoin with the year 2017… Will Bitcoin do it and break through the $20,000 level?
The thing that all followers agree on is that Bitcoin is growing and growing.
It is growing in value and price and growing in terms of adoption and expansion, and the latest example of adoption is the remarkable institutional demand in the second half of this year.
Comparing the current performance of Bitcoin in 2017:
According to the analyst, “Ahmed”, the date of the bitcoin is on an important date on December 17, 2020, as it was a decisive zigzag in the year 2017, and the bitcoin reached its historical peak, after which it immediately began to decline.
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While on December 17, 2018, the price of Bitcoin was falling to rebound and serve as the starting point for the rise that occurred at the beginning of 2019.
But on December 17, 2019 the situation was almost stable and Bitcoin was not affected much by this date.
Today, we are one day away from the date of December 17, and the bitcoin is at its annual highs, which it has not recorded since 2017, so will the bitcoin break the $ 20,000 level, which it must first cross and break through the resistance recorded at 19,600 and $ 19,800.
Reasons for Bitcoin to Rise Above $19,000:
Observing the performance of bitcoin in the year 2020, the year in which the bitcoin reached the level of 19000 dollars, finds that it is significantly different from the year 2017, in which the bitcoin also recorded the level of 19000 dollars and recorded its historical peak.
What distinguishes this year is that Bitcoin has been in a bullish situation since the March crash, where Bitcoin has risen slowly but steadily, and among the reasons why it accelerated its steps is the institutional demand and buying Bitcoin and the change in the outlook towards it.
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MicroStrategy bought $550 million worth of Bitcoin, again bringing in significant sums of money for the second purchase of the currency.
The company “MicroStrategy” followed the “Square” company, which bought with a value of 50 million dollars, even if the amount was small compared to the “MicroStrategy” company, but the symbolism of the process and the turnout of the global “Square” company founded by the founder of Twitter means an increase in confidence in Bitcoin and an increase in its adoption.
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Which raised Bitcoin further the demand of “Paypal” and its integration of digital currencies within its services, these reasons and many other reasons such as the split of the Bitcoin mining reward and the increase in demand…
All of these reasons contributed to Bitcoin reaching its current level of $19,400.
To follow the analyst Ahmed:
- on Twitter from Link.
- And on telegram from Link.
Read also:
What is the highest price reached for Bitcoin?
Why did the price of bitcoin go up? Here are five main reasons
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