Bitcoin price still remains at the $19,000 level, trading around $19,110 as it gained slightly in the past 24 hours. However, it has been in the range of $18,360 and $19,357. Currently, it has been seen that Bitcoin is among the most trending crypto assets in the market as it has reached a new all-time high above $19,300. According to the reports, the new all-time high, recorded on Tuesday, November 01, 2020, was at $19,920.53. Due to this, the market is surrounded by huge fluctuations and the price is fluctuating between $18,360 and $19,357.
Bitcoin $19,000 Movement Showing Indication of 2017 Market
Le Rest from ExoAlpha has said that the current market environment is quite similar to the market trend of 2017. This similarity is seen due to the current Bitcoin price movement as the price is continuously increasing and decreasing, causing great fluctuations. During the 2017 bull market, there have been several drops, which is expected to happen this time as well. Analysts also predict that the traders might be cashing out their gains after reaching a new all-time high.
Ether Might Face Downtrend in 2021
Moreover, it is not only Bitcoin price that is experiencing a surge as Ether is also in the bull market. However, there are predictions that Ether might be facing a downfall around $400 which currently sits at $596. Price predictions state that Ether might be facing a downfall in 2021. Several analysts believe that Ether price might reach $280 by March 2021. On the other hand, options traders like Vishal Shah believe that Ether is going to strike higher in the near future, unlike the ones who believe it to enter into the bearish market. He stated:
“Out to the end of December, there’s a more fair distribution of topside and downside interest.”