Bitcoin Inches Closer to 30,000 with New AllTime Highs

Bitcoin BTC returned to hitting records on Dec. 30 after a fresh rebound took it above its 28,400 alltime high. Data from Cointelegraph Markets and TradingView showed BTCUSD tackle its existing historic top during trading on Wednesday. In a strong resurgence overnight, Bitcoin confirmed that it had no time for bears after briefly dipping as low as 25,830 over the past 24 hours. Daily gains were at 7.5 at press time as 28,560 became reality.

The move brings Bitcoin ever closer to sealing 30,000 as a new psychological level before the end of the year, something which seemed all but impossible just one week ago. As Cointelegraph reported, however, analysts still believe that a reversal could take the largest cryptocurrency down to existing support at 19,500.

On Tuesday, Cointelegraph Markets analyst Michaël van de Poppe noentheless highlighted 27,500 as the critical area to break in order to pave the ways for new alltime highs. The knockon impact among major cap altcoins was clearly felt, with Ether ETH nearing 740 after rising 5.5 on the day. Polkadot DOT added to existing strength to see weekly performance approach 50. As before, the exception was XRP, which maintained 10 daily losses as continued delistings by major exchanges further weighed on sentiment. The troubled coin nonetheless managed to reclaim 0.20.

Source FXPro

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