bitcoin Why did Bitcoin reject the rise to 20,000?

[abohasnn9 2401]

My friend, this is totally untrue news, as currency circulation mainly determines its price, as Bitcoin before the end of 2020 has exceeded the price of $ 29,000, and today in 2021 its price has become $ 26,000 and it is constantly rising forward. Thank you very much.

[susan8929 811]

I think Bitcoin took a few days to get over 20k because it was a very strong psychological resistance. Shortly after the 20k, it went up quickly and has made several highs. Without a doubt, I think the hard part was the $20k, after that it's been very easy and it looks like it's going to keep going up for the next few weeks. Although I hope that at some point it will stabilize and rest for a few weeks so that the rise will be more organic and it will reach a higher price, because if it rises so fast it seems to me that it is not feasible to reach very high prices.
 

[Whited35 15285]

On 12/3/2020 at 9:44 PM, Amiami said:

What do you think is the reason why, Bitcoin has not managed to break the resistance at $ 20,000?

These reasons made the sense at that time but now, story is quite older. Bitcoin is heading toward to make the new resistance at $40K 😜 ! Everyone is talking about the institutional funding has propelled Bitcoin price to be seen at the skyrocketing trend but that was not just a reason. Some reports suggest, adoption rate of Bitcoin is dramatically increased. 

[Pereira 2303]

Today, January 7, bitcoin has shot to new heights, bitcoin is at a very high price and continues to increase, I can say that the whales are taking hands on the matter, they are buying large amounts of bitcoin and seeing how it is in a sudden drastic increase they are taking large amounts of money, they believe that bitcoin this weekend is at 40 thousand or 50 thousand dollars with these drastic increases who knows the price that can be.

[Barbarellah 2225]

At that time Bitcoin was trying to reach the $ 20k barrier and many tried to manipulate the market to create panic and lead to a downtrend, news like the ones you name also influenced at that time so that the value was not reached, more in later days Large investors and a large number of institutions entered, generating large volume purchases, which boosted the price again and at this time we have already doubled it, reaching 40k. A shame for those who got carried away by impulse and sold a month ago as I think that price (20k) Bitcoin will not touch it again.

[selfmade 7]

I do not think it rejected it i think that it might have been just one of the biggest manipulation in the history of cryptocurrency.

[basel23 1722]

I think that the reason that was preventing it was the strong resistance at $ 20,000, the price, but now Bitcoin was able to break this resistance, the price reached a new high, but now a new correction has started and the old resistance has turned into support

[Mir Hamza 2888]

There is absolutely a cryptocurrency that no one can predict. And bitcoin is a cryptocurrency that does not control the price. As you can see, 2 days ago the price of bitcoin was over $ 40000. But then the price of bitcoin started falling and now the price of bitcoin is about $ 35000. The price of bitcoin rises and falls very fast, no one can control its price. 

[Ameralsamt 2558]

Yes, dear, I agree with you that the basis for preventing the rise or fall of any currency is the resistance limit, and strengthened by support in the chart or in the movement and indicators of Bitcoin, it is possible to break the resistance line if the support is the opposite. 

[yonkii 3205]

On 1/11/2021 at 5:00 PM, Ameralsamt said:

Yes, dear, I agree with you that the basis for preventing the rise or fall of any currency is the resistance limit, and strengthened by support in the chart or in the movement and indicators of Bitcoin, it is possible to break the resistance line if the support is the opposite. 

What is it exactly you are saying here? There are some levels where price meets heavy resistance when rising and when it drops there are prices when investors show support by buying as they see that the price went too low. Support level appears when price drops, price then bounces and goes up again to test resistance. Let me show you:

 

You can see that the lower it goes the higher the volume it gets because the investors find it as good price to buy, where the sellers are trying to off load, probably taking profits from the bull run.

[annayks 2314]

The same reason it rejected $40,000. These are the big levels we have right now in the chart as being the top and bottom, support is strong while dropping and maybe price can keep it between 30k and 40k for a while but I expect soon there will be another big leg up that will go to $50k. It could be in February or perhaps by the beginning of March Bitcoin price will reach there and then onwards to $100k summer.

[godislovefll 1880]

We can ask the same question of why BTC does not break the 50k knowing that it has been so close, the 20k was very easy to break it did not take long but maybe it can go back to 20k since BTC brings many surprises or it can break at 50 k and give many more great surprises with its historical prices, now we just have to wait to see what happens in the next few months with btc and the world.

[SuperCrypto 7193]

It is normal for any cryptocurrency to bounce at a resistance point, Bitcoin was testing the resistance at $ 20,000 and I noticed, I think, on the third test of this resistance, the Bitcoin exploded and continued to rise, reaching $ 40,000 within weeks, these things you can learn through technical analysis.

[Nersreem 279]

Bitcoin have break the resistance and rises above any prediction last year. And the new record is good which investors and holders that stay patient have make good profits. 

[yulitzacalvete 1366]

BTC has broken its historical prices time and time again which shows that knowing when it will break its prices is uncertain 'because many expect BTC to exceed even 50k or even 100k but do not know when this will happen and when it will be fulfilled.