Bitcoin RIPS past $20k! What comes next!? Let's see!

By Unhedged | Unhedged Blog | 17 Dec 2020

New All Time Highs!

Where were you when Bitcoin broke it's 2017 ATH?

The number one cryptocurrency by market value jumped over the key psychological threshold during the early U.S. trading hours, surpassing the previous peak price of $19,920 recorded on Dec. 1. At the current price of $21,433, Bitcoin (BTC, +10.2%) is up 10.2% over 24 hours, according to CoinDesk’s Bitcoin Price Index (BPI).
via CoinDesk https://www.coindesk.com/bitcoin-price-breaks-20k

Surpassing it's previous all-time-high is a HUGE milestone not only technically, but psychologically as well.

It seems that there are really only 2 types... well I guess 3 types... of opinions surrounding BTC.

People who believe in it's success long term.
The doomers who think it's worthless and has no inherent value.
Those who just don't know/don't care.

And yet again, the believers seem to come out on top.

Not long ago...

Back in March we saw the coronavirus dump which saw BTC hit in the $3,000s on some exchanges. Since then, Bitcoin has steadily worked it's way back up to pre-corona prices and beyond.

I remember back in July, the $10k mark was the big barrier we were facing. Having seen rejections in that range multiple times over the years. But, Bitcoin prevailed.

After surpassing $10k then coming back to test it and holding as a new resistance, the new bull-market for BTC started (in my mind at least).

Since that point in time, it seems like Bitcoin has been on a rocket. Steadily climbing and now surpassing it's 2017 ATHs.

Now what?

Where it goes to? I have no clue. But, I remain bullish.

I expect a lot of volatility now that we have broken the ATH. I'm sure there will be some big bags unloading and taking profits. So, I urge all traders to BE SMART and BE CAREFUL.

This is unknown territory. And like I said, large amounts of volatility should not be a surprise if it does happen.