Bitcoin Likely to See Price Discovery in 2021; Analysts Foresee Local Top

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Bitcoin is officially in full parabolic rally mode, with the cryptocurrency’s recent break above $20,000 giving way for it to see a massive rise Its price rallied as high as $23,700 overnight before facing a steep rejection that sent it spiraling down to lows of $22,400 The buying pressure here was intense, and has since allowed it to rally higher It is important to note that although the crypto did face a rejection, it is clear that the mounting hype around it has led to inflows of dip buyers One trader is now noting that BTC will likely form a local top in the near-term following this immense parabolic upswing He believes that this will result in it entering a true price discovery mode in a few weeks when 2021 rolls around Bitcoin and the entire crypto market have been caught in the throes of an immense bout of sideways…

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