What timing! 12 years after the publication of the BTC white paper, the leading crypto currency is storming to a new annual high. The “digital gold” is riding on a real wave of success while it crashes on the international stock exchanges. But where is the journey heading? We take a look at the current market situation.
Bitcoin exchange rate current
At the time of writing, the market leader is quoted at 13900 USD, which represents a daily gain of 4.80%. According to this, the BTC is experiencing a first ricochet after the price climbed above the USD 14000 mark on several major exchanges. From a bullish perspective, this limit represents a directional barrier. Large sell orders are piling up here. In addition, it is likely that whales will have a massive impact on the price in this area.
Where do we go from here?
After reaching a new annual high of USD 14028, the bulls are preparing their next attack on the stubborn resistance. A sustained breakthrough could turn out to be a “door opener” for a new rally towards USD 20000. Due to the isolation from traditional markets and increasing volatility, daily price jumps in the double-digit percentage range are becoming increasingly probable. Furthermore, we are currently experiencing a real BTC hype.
Bitcoin as a safe haven
In the past 24 hours, more than USD 15 billion has flowed into the crypto market. More and more investors see the limited digital currency as a crisis-proof “store of value”. While rising coronavirus infections pose long-term problems for traditional markets, the Satoshi currency is performing in a league of its own. For comparison: the last time the price reached the USD 14100 mark was in January 2018, and the hype is also reflected in the BTC Dominance Index. The indicator currently stands at 63.9 %.
Altcoins on Saturday
Ethereum can follow the Bitcoin on Saturday. The Smart Contract Coin is thus again attacking the important 400 USD mark (current rate: 393 USD). Further down the line, coins such as Polkadot (+ 5.48 %), Stellar (+ 5.12 %) and Filecoin (+ 6.96 %) are attracting attention. According to this, most altcoins follow the first mover with a slight delay. Now the focus of investors is on the showdown at the USD 14000 mark. Excitement is guaranteed!