Demand is Bitcoin has significantly increased in the past 2 weeks due to the instability of global financial markets, including economic changes and increasing currency devaluation. Analysts said once the Bitcoin breaking resistance threshold $790-800 then reviews Bitcoin can reach level 4 numbers.
The discontinuation of 500 and 1000 Rupee released by India, the devaluation of the Yuan, the harshly repressive on the “wealth management products”-WMPs-Chinese, or the election of Donald Trump, and many other factors had caused the price of Bitcoin escalate quite rapidly.
On October 22, Bitcoin is traded at a price of $660 on most markets. Come on November 20 reviews Bitcoin almost reached the level of $800, pass the record level of $775.
Until yesterday, the price fell back to $732 region Bitcoin, marking growth of more $100 since last October, overcoming all kinds of reserve money, property and other Altcoin types.
Breaking the $800 level
Analysts said that while the $800 level breaks then the Bitcoin price can reach up to 4 numbers.Specifically when it combines with the support from the changes of the economy and finance, then investors will seek safe haven for assets, Bitcoin will achieve a price of 4 numbers.
After the election of Donald Trump, price Bitcoin immediately increased to about $730. Analysts and traders said that it is only the price increases in the short term and been plagued by resistance threshold quite high, so the price required to return to a previous point in time.
However the resistance threshold of $730 again moved up $770. Despite the decline, the price of Bitcoin is hovering at $737, a higher price than the time of the global financial market turmoil was sparked by Donald Trump.
So, most likely the price will go to the Bitcoin 4 figures once broke the $800 level, especially if the support from investors seeking a safe haven to protect property.