Bitcoin Price Poised for $30,000 USD Before 2021?

As the year wraps up, Bitcoin price bagged a new all-time high smashing past $29,000 USD. If the price continues upwards, the cryptocurrency could reach $30,000 USD as the new year kicks off. Following a minor correction earlier this week, the price of Bitcoin hit another increase rallying to a new record price.

Bitcoin price in the past week

Looking at the chart over the past seven days, we can see Bitcoin’s rapid rise in price, minor dip and then further increase in trading. Moving from a price below $24,000 USD to over $29,000 USD, experts are both bullish and cautious about the short-term future of the cryptocurrency given the unprecedented price.

bitcoin price

Source: CoinMarketCap

In the past week, Bitcoin price has seen a low trading price of $23 463,67 USD and a high of $29 180,10 USD. In different, Bitcoin’s value has surged by nearly 25% in just seven days of trading.

What do trading experts predict for Bitcoin price?

While many bullish trading analysts are predicting Bitcoin price to hit above $30,000 USD to break through new resistance barriers, others are less optimsist about the data before Bitcoin can reach past $30,000 USD. Nunya Bizniz, popular trading expert indicates that anything more than $30,000 USD might be overextended owing to the 1.618 Fibonacci retracement, which sits is at $30,196. As stated:

Cryptocurrency analyst Michaël van de Poppe, on the other hand saw $27,500 USD as the critical region to break. Since Bitcoin has sent past this, he predicts the token to smash new all-time highs:

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