Indeed, during the course of the day it seems to be even pushing towards $23,000, although for now this threshold has not yet been reached.
The fact is that, after having broken yesterday the barrier of $19,900, recording a new all-time high, it is not finding further barriers that would block the increase in the short term.
According to some analysts the next resistance could be at $24,000, but according to others the price in this phase could even go up to $25,000.
Compared to the level reached yesterday morning, just below $19,500, the gain so far has been more than 15% in less than 24 hours.
Bitcoin’s price climb to $22,000.
This is a real parabolic climb, for which it is difficult to assume a long duration.
Among other things, the month of December began with a price around $19,300, then dropped below $18,000 on December 11, and returned to $19,300 two days later. Since then it has been for about three days just below $19,500, and then literally exploded in the last few days.
It should be noted that during the month of November the price had already increased by 40%, given that at the beginning of the month it was still below $14,000, and that also considering today’s increases, during 2020 for now it has increased by over 210%.
To tell the truth, until mid-October the price increase had not followed a parabolic trend, going from $7,200 to $11,500 in nine and a half months, but starting from October 21st it has literally shot up, first with a jump to over $13,000, then with a second one that took it over $15,000, followed by a third one that allowed it to exceed even $19,000, and a fourth one that is still in progress.
Although it is difficult to imagine where and when it will stop, there are some parameters that suggest that sooner or later the uptrend could stop, triggering a retracement. However, not only is it difficult to imagine precisely when and where the uptrend might stop, but it is even more difficult to imagine when a retracement might be triggered, and up to what level it might drive the price down.