January 1st, 2021, Bitcoin has reached new all-time high price of around $29,500, however it’s struggling to break the $30k mark. There are many Bitcoin enthusiasts that believe that Bitcoin will be breaking 30k mark today or in the next few days, and if that happens, it will most probably attract eve more investors and BTC will be going up to $32-33k. Such enthusiasts include the Winklevoss twins. Billionaire Brothers, Tyler and Cameron Believe that BTC is going to break 30k in the days to come and they even put out their predictions that The price of BTC will be going over $500k in the years to come.
However, analysts are worried about incoming correction. Exchange order books on both Binance and Bitfinex show relatively large sell orders from $29,800 to $30,000. This means that sellers would attempt to lead a Bitcoin pullback before it reaches $29,800. A pseudonymous cryptocurrency trader known as “Loma” similarly said that if Bitcoin was to reject at $30,000, it would likely drop from $29,800.
The futures funding rate on Coinbase and other major exchanges have remained at around 0.01%, despite the recent rally. At times, it fell below 0.01%, indicating that the majority of the market was short or selling BTC.
The next few days will be very important for Bitcoin. Investors should be watching price correctly. There are ways to play this right even if the price goes up or down. If BTC crosses 30k it will be definitely adding an additional 2-3k in a parabolic run, However, if the price corrects and goes down a little, it will be a great dip, and investors should be buying anyway and getting ready for the next price run.
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