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Why one analyst says Bitcoin 'is on the cusp' of busting through $20K

Published 12/02/2020, 03:13 AM
Updated 12/02/2020, 05:00 AM
Why one analyst says Bitcoin 'is on the cusp' of busting through $20K

The market sentiment around Bitcoin (BTC) is mixed as BTC price dropped almost immediately by 10% right after hitting its previous all-time high at $19,892 on Dec. 1.

Nevertheless, some analysts and fund managers anticipate the dominant cryptocurrency to rise past $20,000 in the short term. But others are adamant that there will be another correction first as seen in previous bull cycles.

BTC/USD weekly chart (Bitstamp). Source: Tradingview
Bitcoin monthly chart with RSI and DMI. Source: Mohit Sorout, TradingView.com

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