Bitcoin Surpasses $12,000

bitcoin art oct 2020

Bitcoin has overtaken $12,000, with it rising by some $500 in the past two days and nearing a new local high. Whether that formidable resistance of $12,000 is overtaken, however, remains to be seen as bitcoin is just $200 above it currently. It can easily fall down again without $12,000 being support, but it could also this time reach for $17,000 in the medium term, with it to be seen in that case whether $14,000 would be much of a resistance. It’s not too clear whether what we’re seeing is a fairly nice cup and handle on the daily, something that would suggest bears have consumed their ammo with bulls maybe thinking of charging. Why, is the big question and we’d have to start with the halvening. There’s just less bitcoin coming onto the market, with only 6.25% of the total supply to ever be mined once this halving period…

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