Today Bitcoin finally did it. We reached a new All Time High (ATH) and we broke the 20k barrier that many were doubtful about. 

There were some people who were pretty sure that bitcoin would not be able to break through the 20k price by the end of the year. I was always pretty confident that it would. As many have been watching for the past couple of weeks we have seen a pretty nice run and bitcoin spent some time flirting with a new ATH. 

There were others who were and still are bullish on bitcoin with many projecting a run up to 30k. Do I think it will hit 30k by the end of the year? Well, maybe and I say that with a few reservations. I think there will be another barrier to the 30k range but I do not think it will be as tough to break through and I also believe if we do see a 30k plus price it will be in the early part of 2021.

Nobody really knows for sure what was keeping bitcoin below the 20k mark but I think there were probably many miners and HODLERS that had a sell point right below the 20k price. When so many people have a sell order in right below 20k when the price gets to that point and the triggers are met bitcoin starts moving. These moves can prevent the price from going up as the ones who are willing to buy in the 19k range have their needs met and thus it keeps the price below the mark.

I doubt many people had sell limits just above the 20k mark because as we have seen today once it broke through the 20k barrier it just kept on going, almost to 21k. I think we still have some way to go and I would also bet the number of people who are planning to buy in the next dip has increased substantially. 

Where do you think the run will stop? Please leave a comment below and let us know what you think the new ATH will be.

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