{"id":415,"date":"2020-12-01T01:57:30","date_gmt":"2020-12-01T06:57:30","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=415"},"modified":"2020-12-13T22:43:40","modified_gmt":"2020-12-14T03:43:40","slug":"bitcoin-price-prediction-btc-bulls-retest-19800-path-to-31k","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/bitcoin-price-prediction-btc-bulls-retest-19800-path-to-31k","title":{"rendered":"Bitcoin Price Prediction: BTC Bulls Retest $19,800, Path to $31k?"},"content":{"rendered":"\n<figure class=\"wp-block-image size-medium\"><img decoding=\"async\" width=\"780\" height=\"439\" src=\"https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/btc-bulls-retest-all-time-high-780x439.jpg\" alt=\"Btc Bulls Retest All Time High\" class=\"wp-image-425\" title=\"\" srcset=\"https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/btc-bulls-retest-all-time-high-780x439.jpg 780w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/btc-bulls-retest-all-time-high-1200x675.jpg 1200w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/btc-bulls-retest-all-time-high-768x432.jpg 768w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/btc-bulls-retest-all-time-high-1536x864.jpg 1536w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/btc-bulls-retest-all-time-high-2048x1152.jpg 2048w\" sizes=\"(max-width: 780px) 100vw, 780px\" \/><figcaption>Btc Bulls Retest All Time High<\/figcaption><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">In Summary<\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>On Nov 30, the coin had retested its all-time high in several exchanges, roaring to $19,833 before recoiling back but steadying above $19k.<\/li><li>At the time of writing, the <a class=\"rank-math-link\" href=\"https:\/\/www.coinlore.com\/coin\/bitcoin\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Bitcoin price was up six percent<\/a> on the last trading day and has been steady in the last hour.<\/li><li>Notably, support and resistance levels lie at the coin\u2019s all-time highs of $19,891 (Coinbase data), and $16,200, or last week\u2019s lows.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bitcoin (BTC) Price Overview<\/strong><\/h2>\n\n\n\n<p>The uptrend is firm, and buyers are in control. Aforementioned, the path of least resistance has been set.<\/p>\n\n\n\n<p>For aggressive traders, every low could be a loading opportunity. There may be further gains above Bitcoin\u2019s All-Time highs set in the tail end of 2017 only if this week\u2019s uptick in trading volumes continue.<\/p>\n\n\n\n<p>Ideally, for buyers to be comfortably in charge, the break above $20,000 ought to be with equally high trading volumes surpassing the averages printed when the Bitcoin price sunk to lows of $4k in mid-March 2020.<\/p>\n\n\n\n<p>In that eventuality, chances of the BTC price rallying to new highs of around $21k or even $31k will be highly likely.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bitcoin (BTC) Market Movers<\/strong><\/h2>\n\n\n\n<p>Behind the rapid shift in Bitcoin prices is the realization that the digital asset is emerging as an alternative store of value asset for retailers and institutions.<\/p>\n\n\n\n<p><strong>Yesterday, it soared to a new 2020 high:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">#Bitcoin<\/a> just hit an all-time high! Onward and upward we go to the moon! \ud83d\ude80 <a href=\"https:\/\/t.co\/CfyuBAelZZ\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">pic.twitter.com\/CfyuBAelZZ<\/a><\/p>&mdash; Tyler Winklevoss (@tyler) <a href=\"https:\/\/twitter.com\/tyler\/status\/1333429044109520896?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">November 30, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>In September, the NASDAQ-listed MicroStrategy bought $475 million worth of Bitcoin to become the largest public company holding the digital asset for strategic investment reasons.<\/p>\n\n\n\n<p>Their decision has paid off.<\/p>\n\n\n\n<p>Since their announcement, the Bitcoin price has nearly doubled, earning the public company over $100 million in profits.<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/twitter.com\/TruthRaiderHQ\/status\/1321387526234492928\n<\/div><\/figure>\n\n\n\n<p>Meanwhile, its CEO, Michael Saylor says Bitcoin is a shield against inflation. Additionally, its underlying network is \u201cthe world\u2019s best treasury reserve asset &amp; the emerging dominant monetary network.&nbsp; It is the solution to the store of value problem faced by every individual, corporation, &amp; government on earth.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Looking to join in on the bitcoin boom? A new report from <a href=\"https:\/\/twitter.com\/CitronResearch?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">@CitronResearch<\/a> says <a href=\"https:\/\/twitter.com\/MicroStrategy?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">@MicroStrategy<\/a> could be your best bet. MicroStrategy CEO @michael_saylor shares why. <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">$MSTR<\/a> <a href=\"https:\/\/t.co\/Ow6FM40gBQ\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">pic.twitter.com\/Ow6FM40gBQ<\/a><\/p>&mdash; CNBC&#39;s Fast Money (@CNBCFastMoney) <a href=\"https:\/\/twitter.com\/CNBCFastMoney\/status\/1331732308316090370?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">November 25, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Because of the inevitable inflation due to endless printing money, Rick Rieder, the Chief Investment Officer of BlackRock said Bitcoin may end up replacing gold. BlackRock has $7.4 trillion of assets under management as of Q4 2019.<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Wow. BlackRock CIO of Fixed Income Rick Rieder talking about Bitcoin replacing gold on CNBC this morning. <a href=\"https:\/\/t.co\/9KZR0muJVp\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">pic.twitter.com\/9KZR0muJVp<\/a><\/p>&mdash; Pomp \ud83c\udf2a (@APompliano) <a href=\"https:\/\/twitter.com\/APompliano\/status\/1329774212018475010?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">November 20, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>In the meantime, Thomas Fitzpatrick thinks the Bitcoin price could rally to $318k in the next year based on technical analysis on the weekly chart.<\/p>\n\n\n\n<p>In a newsletter meant for institutional investors, the analyst said the current state of Bitcoin price has some resemblance to the gold market in the 1970s.<\/p>\n\n\n\n<p>Also, Antony Pompliano said the prevailing macro-economic conditions are rocket fuel for Bitcoin prices. Within a year, he adds, BTC may rally to $100k.<\/p>\n\n\n\n<p>Paul Tudor Jones, a billionaire hedge fund manager, chimed in saying the fixed supply of Bitcoin is the reason why investors are doubling down:<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">&quot;Paul Tudor Jones said the cap on <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">#Bitcoin<\/a> production made it an attractive alternative to the declining value of traditional currencies, which he thought was inevitable as central banks printed more money to encourage an economic recovery.&quot; <a href=\"https:\/\/t.co\/sGxlpF9tsw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">https:\/\/t.co\/sGxlpF9tsw<\/a><\/p>&mdash; Erik Voorhees (@ErikVoorhees) <a href=\"https:\/\/twitter.com\/ErikVoorhees\/status\/1333477752838742017?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">November 30, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bitcoin Price Prediction<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1200\" height=\"675\" src=\"https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/bitcoin-price-daily-chart-for-dec-1-1200x675.jpg\" alt=\"Bitcoin Price Daily Chart For Dec 1\" class=\"wp-image-423\" title=\"\" srcset=\"https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/bitcoin-price-daily-chart-for-dec-1-1200x675.jpg 1200w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/bitcoin-price-daily-chart-for-dec-1-780x439.jpg 780w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/bitcoin-price-daily-chart-for-dec-1-768x432.jpg 768w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2020\/12\/bitcoin-price-daily-chart-for-dec-1.jpg 1280w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption>Bitcoin Price Daily Chart For (December 1, 2020)<\/figcaption><\/figure>\n\n\n\n<p>The Bitcoin price added six percent on the last day, reversing losses of last week.<\/p>\n\n\n\n<p>From the daily chart, the uptrend is solid. Buyers are in the driving seat.<\/p>\n\n\n\n<p>After the Nov 30 rally to new 2020 highs, odds of buyers pushing above the liquidation level is likely.<\/p>\n\n\n\n<p>A confirmation of Nov 30 gains&#8211;and a solid close above Nov 24 highs, could provide the necessary foundation for further gains towards $21k or better in Dec 2020.<\/p>\n\n\n\n<p>Pasting a Fibonacci retracement tool between September and November 2020 trade range reveals that prices not only bounced off from the middle BB but from the 38.2 percent Fibonacci retracement level.<\/p>\n\n\n\n<p>It hints of strong upward momentum. Also, it is possible for the Bitcoin bulls to above last week\u2019s high and register new all-time highs.<\/p>\n\n\n\n<p>Losses back below $16,100 and the 38.2 percent Fibonacci retracement could see the Bitcoin price fall back to within the $12.5k and $13.5k zone marked by the 61.8 and 78.6 percent Fibonacci levels.<\/p>\n\n\n\n<p><strong>Disclaimer:<\/strong> <em>Opinions expressed are not investment advice. Do your research<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In Summary On Nov 30, the coin had retested its all-time high in several exchanges, roaring to $19,833 before recoiling back but steadying above $19k. At the time of writing, the Bitcoin price was up six percent on the last trading day and has been steady in the last hour&#8230;. <a class=\"more-link\" href=\"https:\/\/www.hodlin.com\/blog\/bitcoin-price-prediction-btc-bulls-retest-19800-path-to-31k\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[45,44,11],"class_list":["post-415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-19k","tag-all-time-high","tag-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts\/415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/comments?post=415"}],"version-history":[{"count":1,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts\/415\/revisions"}],"predecessor-version":[{"id":426,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts\/415\/revisions\/426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/media\/425"}],"wp:attachment":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/media?parent=415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/categories?post=415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/tags?post=415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}