The Bitcoin rally seemingly has no breaks as Bitcoin price breaks above yet another major milestone at $ 28.000

By Selena On Dec 27, 2020

The Bitcoin rally appears to have no stop as Bitcoin price has risen above another major milestone. Specifically, Bitcoin was closer to $ 30,000 when it reached $ 28,000. However, at press time, things have decreased a bit more as BTC is correcting in the $ 27,000 zone.

BTC/USD 4-hour chart | Source: TradingView

Bitcoin price doesn’t get tired of setting new record highs

Having hit $ 27,000 earlier today, BTC has passed another key milestone of $ 28,000. At 11:16 UTC, it hit a new lifetime high of $ 28,377 on the Bitstamp exchange.

Bitcoin’s market cap has risen to its highest level since mid-September 2019, surpassing 71.75% on December 27. With a market cap of $ 518 billion, the Bitcoin network is now more valuable. Credit card Visa and South Korean technology giant Samsung.

BTC is now up more than 293% so far after gaining almost 20% in just the past four days. The total value of the crypto market is currently at $734 billion.

Well-known analyst and trader Alex Krüger, in his latest Twitter entry, discussed some possibilities as to where bitcoin’s price might be headed next.

He stated:

“When an asset is trading all-time highs, there are no reference points from past trading history to use as levels. In that case, traders look at key round numbers and Fibonacci extensions. The BTC levels traders are looking at now are 30K (round number and fib) and 36K (fib).”

Of course, as always, it’s important to be particularly careful. In the past seven days alone, BTC is up more than 20% and a correction is not out of the question.

You can see the BTC price here.

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