Bitcoin decided to surprise everyone today and has valued 10% in the last 24 hours. At the beginning of the day the digital currency was traded for US$29,361 and a few hours later it was traded for US$32,965. A high of US$ 3600 in less than 1 day.
In some brokers the price exceeded US$33,000 and was even traded for US$33,500.The accumulated valuation of the last 30 days is 68%.
In mid-November 2020 the digital asset began to appreciate Crypto Cash review and has not stopped since.
The currency’s bullishness has caused market capitalization to exceed US$610 billion, bringing Bitcoin’s dominance to 72%.
With the exception of XRP, all the top 10 crypto-currencies per market capitalisation are following Bitcoin’s rise over the last 7 days.
One of the main reasons for the recent Bitcoin bullishness is the approval of the new stimulus package signed by Trump last week. This weakens the dollar and at the same time strengthens the Bitcoin.
Also, according to expert analysis there is little selling pressure at the world’s leading brokers, a shared chart by Simone Conti shows that „there are few Bitcoins to sell“ in exchanges.
The graph below shows that Bitcoin is about to enter a period where there is little selling pressure. The explanation is that as Bitcoin is in unknown territory investors are in the process of discovering prices, people now have to speculate where to place sell orders to ensure more profits.
That is, would you sell an asset for $33,000 knowing that it could be worth $50,000 by the end of the year?