{"id":142184,"date":"2020-12-27T02:40:07","date_gmt":"2020-12-26T23:40:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/blow-off-top-or-30000-traders-muse-bitcoins-end-of-year-fate\/"},"modified":"2020-12-27T02:40:07","modified_gmt":"2020-12-26T23:40:07","slug":"blow-off-top-or-30000-traders-muse-bitcoins-end-of-year-fate","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/blow-off-top-or-30000-traders-muse-bitcoins-end-of-year-fate\/","title":{"rendered":"# \u2018Blow-off top\u2019 or $30,000? Traders muse Bitcoin\u2019s end-of-year fate"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25708e1902a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25708e1902a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/blow-off-top-or-30000-traders-muse-bitcoins-end-of-year-fate\/#Historic_candle\" >Historic candle<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/blow-off-top-or-30000-traders-muse-bitcoins-end-of-year-fate\/#Clamoring_for_30000\" >Clamoring for $30,000<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/blow-off-top-or-30000-traders-muse-bitcoins-end-of-year-fate\/#Blow_off_top\" >Blow off top?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># \u2018Blow-off top\u2019 or $30,000? Traders muse Bitcoin\u2019s end-of-year fate <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTIvYTA5ODM4ZDctY2ZkMC00YWQ2LWIzMjctNDNlMWYzOTk2M2I4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>After a historic day in which the headlines could hardly keep up with price action and Bitcoin set a new all-time high above $26,500, traders and analysts are now turning their attention towards what could be in store for the digital currency over the next five days as 2020 comes to a close.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Historic_candle\"><\/span>Historic candle<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>While a 8-9% daily gain might be pittance compared to Bitcoin\u2019s historical volatility \u2014 there was a 42% rally as recently as 2019 \u2014 as Messari founder Ryan Selkis pointed out, today\u2019s rally featured only the second $2,300 candle in the digital currency\u2019s history:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin\u2019s first $2300 candle took 8.5 years.<\/p>\n<p>It\u2019s done that again today. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FfiCrG9OhX\">pic.twitter.com\/FfiCrG9OhX<\/a><\/p>\n<p>\u2014 Ryan Bitcorn Selkis (@twobitidiot) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/twobitidiot\/status\/1342950866278625283?ref_src=twsrc%5Etfw\">December 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Perhaps caught in the euphoria, some traders are already looking towards when daily candles eclipse five figures:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">When will <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> have its first $10k daily candle?<\/p>\n<p>\u2014 Luke.hodl (@Coinosphere) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Coinosphere\/status\/1342914121793216515?ref_src=twsrc%5Etfw\">December 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Clamoring_for_30000\"><\/span>Clamoring for $30,000<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Positive headwinds are swirling for Bitcoin\u2019s next step. \u201cBitcoin\u201d is currently trending on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> with 164,000 recent tweets \u2014 comfortably outs<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>ping the next highest trending item, the archeological discovery of a street food stall in the ruins of Pompeii.\u00a0<\/p>\n<p>Additionally, as Cointelegraph has previously reported, this recent rally has put Bitcoin back on the path plotted by the popular Stock to Flow (S2F) model, which forecasts a price of :<\/p>\n<p>Another popular folk metric indicated that Bitcoin mania still has a long ways to climb towards 2017 peaks as well. According to Google analytics, search history for \u201cBitcoin\u201d is barely at a fifth of all time high levels: <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Google Trends data:<\/p>\n<p>Searches for &#8216;buy <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>&#8216; are around 1\/5th of their all-time peak<\/p>\n<p>Will searches eventually 10x the last peak? It has begun. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/MUgRfPsvlD\">pic.twitter.com\/MUgRfPsvlD<\/a><\/p>\n<p>\u2014 Alistair Milne (@alistairmilne) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/alistairmilne\/status\/1342882161125425154?ref_src=twsrc%5Etfw\">December 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>All together, the positive sentiment and parabolic price action have a greater and greater number of traders clamoring for \u201830k by the 30th\u201d \u2014 a $30,000 price on the 30th of December:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Retweet for 30k <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> by the 30th<\/p>\n<p>\u2014 Stacking (@StackingUSD) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/StackingUSD\/status\/1342961447295463425?ref_src=twsrc%5Etfw\">December 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Blow_off_top\"><\/span>Blow off top?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Despite the positive sentiment and price action that puts Cape Canaveral to shame, some traders are already lining up possible short positions. One trader is calling for a blow-off top in the next two weeks:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Update &#8211; Weekend blow off in full motion. <\/p>\n<p>I suspect the hammer will come within the next 2 weeks <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/3xAirpOJrz\">pic.twitter.com\/3xAirpOJrz<\/a><\/p>\n<p>\u2014 Crypto Leo (@CryptoLeos) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoLeos\/status\/1342944349173264385?ref_src=twsrc%5Etfw\">December 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>While it remains the minority sentiment, he\u2019s not alone and thinking turbulence could be ahead for Bitcoin. $2.3 billion worth of Bitcoin futures expired on Christmas day, which historically has led to choppy markets.\u00a0<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/blow-off-top-or-30-000-traders-muse-bitcoin-s-end-of-year-fate\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# \u2018Blow-off top\u2019 or $30,000? Traders muse Bitcoin\u2019s end-of-year fate &#8221; After a historic day in which the headlines could hardly keep up with price action and Bitcoin set a new all-time high above $26,500, traders and analysts are now turning their attention towards what could be in store for the digital currency over the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":142185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/a09838d7-cfd0-4ad6-b327-43e1f39963b8.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,81951,74937,74982,74939,75150],"class_list":["post-142184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-price","tag-btc-markets","tag-market-analysis","tag-market-update"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/142184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=142184"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/142184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/142185"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=142184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=142184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=142184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}