Bitcoin Price Closer To $ 14,000? - HOT information from the market!

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Tokeneo
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4 min reading

The Bitcoin price is currently at a nearly 5% plus in the daily range. Currently, this cryptocurrency trades around $ 13,717 per coin. Where is the BTC price heading? Here is a summary of the most important information from the market!

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Bitcoin price - 14 000 USD at your fingertips

The current BTC rate is around USD 13,717. In the last 24 hours, this cryptocurrency has established a new year's highest price level. Yesterday's Bitcoin session opened at $ 13,075.24, and the closing was at $ 13,654.22. This, in turn, brought us an increase of 4.43%.

However, the price of the oldest cryptocurrency did not rest on its laurels. BTC hit $ 18,837.70 per coin. But analysts say $ 18,875 could be a key resistance line for Bitcoin, as indicated by the weekly candlestick chart.

Recall that last year's highest level on this cryptocurrency was $ 13,970. Technically, it remains an important area for retailers. Some are expecting a strong correction, the last time Bitcoin was so high there was a significant price drop in the short term.

bitcoin cryptocurrency price chartBTC chart 7 days

Despite the pessimistic scenarios, it's worth noting that last week the oldest cryptocurrency tested many key resistance levels. Moreover, she managed to beat each of them, and this in turn led to the demonstration of stable growth.

Crossing the $ 18,875 line and staying above it would send an extremely positive signal to investors.

The uninteresting situation in the world is driving the Bitcoin rally?

More and more people are interested in cryptocurrencies. The report published by Grayscale shows that the increase in interest in BTC compared to last year was 19%. The research was conducted on 1,000 people in the United States who were asked about their attitude to Bitcoin. Respondents were between 25 and 64 years old and had a minimum capital of $ 10,000 to invest in.

It turned out that there was a correlation between the COVID-19 pandemic and all related restrictions, and a greater demand for BTC. Currently, more than half of the respondents declared their interest in this cryptocurrency. It was a significant increase compared to the 2019 results, where only 36% of respondents showed such willingness.

Among the respondents who expressed their positive attitude towards Bitcoin, as many as 83% of people invested in this cryptocurrency in 2020.

Increased interest among retail and institutional investors

According to the anxiety and greed index, BTC users show greed. Moreover, this trend has strengthened with positive changes in the chart of this cryptocurrency. According to data from the Glassnode platform, the number of addresses with a balance greater than or equal to 0.01 BTC, 0.1 BTC, 1,000 BTC and more than 0 BTC are at the highest levels.

Not only individual investors have turned to Bitcoin. This is done by, for example, large companies listed on stock exchanges, such as MicroStategy, which recently admitted that investing in BTC turned out to be the best decision!

Surprisingly, the largest banks are also beginning to appreciate Bitcoin. For example, analysts from JP Morgan Chase - found that this cryptocurrency has features that allow it to take advantage also over gold. BTC can play the role of both a store of value and a convenient means of payment - which gives it additional value.

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