With Bitcoin breaching all the FIAT currencies All Time Highs, are there any barriers left ?

With Bitcoin breaching all the FIAT currencies All Time Highs, are there any barriers left ?

By ircrp | ircrp | 17 Dec 2020


 

Further to the previous article from yesterday highlighting that there are no more FIAT currency barriers for Bitcoin to rip through, apart from the Japanese Yen (JPY) which in the past hours has seen a solid breakthrough its all time high after Bitcoin has went into the price discovery territory with the current highs of almost $23,750 regions. Although the FIAT based barriers from years ago are no longer existent, there still exist a few barriers which Bitcoin is yet to face when compared against assets in its class, for example with hard assets like Gold and Silver still lacking a solid 25% of an upside to claim the tops of the late 2017s.

 

  • With the early morning action of 17th of December 2020 the last barrier of FIAT has been crushed by Bitcoin with the early morning volatility ripping through the ¥2,312,100 previous All Time High set back on 8th December 2017. The current price action has settled between the previous ATH and the current one of ¥2,457,885 with a further volatility expected

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  • The Bitcoin/Gold chart has seen a solid breakthrough of the 2019 highs with yet an unbroken all time high of 15.6 ounces per Bitcoin back from December of 2017. With the current price action lacking a solid 25% of an upside from today's high of 12.6 of ounces per Bitcoin to break through the all time high barrier.

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  • Another hard asset and what looks today as even a harder barrier for Bitcoin to break can be seen on the Bitcoin/Silver chart with today's price action breaking through the 2019 highs, although not rising much above it and lacking a solid 35% of upside to reach the target of 1250 ounces of Silver per Bitcoin.

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This article was originally published on read.cash

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