Bitcoin (BTC) Surges Past $17,800, a Change in Market Dynamics? Here Is What Analysts Are Saying

Total
0
Shares

Other factors that may have also contributed to this recent rally are BTC forming a new parabolic trend and Bitcoin absorbing whales’ selling pressure.

BTC/USD Daily Chart

On Bitcoin forming a new parabolic trend, it was noted that BTC dipped below a parabola dating back to September. It was consequently stated that new parabolic trends could reemerge in a bull cycle.

Bitstamp cryptocurrency exchange described BTC surpassing $17,000 as a “stratosphere.” It said:

“STRATOSPHERE: #Bitcoin passed $17k, placing us just 15.7% from a new ATH! The highest $BTC price at Bitstamp was 19666 on 17 December 2017.”

The One-Year Bitcoin HODL Wave. Courtesy: lookintobitcoin.com

Fund Flow Ratio of All Exchanges. Courtesy: cryptoquant.com

Image Credit: Cryptoquant, lookintobitcoin.com, Shutterstock

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like