Bitcoin Retreats After Run on $20k.
Bitcoin is trading on the back foot today following the bullish debut of bitcoin futures on the CME yesterday.
Having clocked a new all-time high of $19,783. Bitcoin Price Index is trading at $19,178.
On the higher side, $20,000 is a major resistance. A high volume breakout may open doors for $24,000 as expected by a significant minority in the markets.
As per CoinDesk's Bitcoin Price Index , the world's largest cryptocurrency by market capitalization rose to a new all-time high of $19,783.06.
Bitcoin has appreciated by 10 percent in the last 24 hours as per the data source CoinMarketCap. A year ago, it traded below $1,000.
The move towards $20,000 is in line with the bull flag breakout discussed last week.
Prices moved above $16,000 in a convincing manner after the CBOE launched the first BTC futures contract at 23:00 last Sunday.
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