Antihype on money: Why Bitcoin Failed to Break $20,000
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Dec. 1, 2020
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This article is brought to you by a Russian Telegram channel "Antihype on money," an analytical channel about all economic hype trends and their triggers.

Bitcoin (EXANTE: Bitcoin) price rejected near the $20,000 mark as investors should deal with the bitcoin's possibility to surge further.

According EXANTE's Co-Founder & CEO Alexey Kirienko the $20,000 mark is a "psychologically important level."

"Bitcoin can quickly pass it, or it can stagnate for a long time or roll back," Kirienko says.

However, there is still little doubt that bitcoin will surpass this level. It has already overcome several corrections of different depths after the $18,000 and $19,000 marks that market participants used to buy, the EXANTE's Chief Executive points out. Kirienko also emphasizes that with each new correction, the number of those wishing to take profit decreases.

Antihype on money: Why Bitcoin Failed to Break $20,000
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The EXANTE's Co-Founder believes the leading cryptocurrency may break the $20,000 mark in the coming days and go higher.

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"Those who wanted to take profits have already done so. It was just that the growth was so rapid that no fixations were noticeable," he added.

EXANTE's Co-Founder projects the crypto community will see $25,000 by the end of February, if no global changes occur. Kirienko also believes that further growth will no longer be so explosive as before.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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