The previous week was like a roller coaster for the cryptocurrency market: the BTC rate fell sharply and then rebounded even more rapidly. This week, the volatility has slightly decreased, but the main cryptocurrency is still above the powerful resistance level, around $7200. For this reason, the price of bitcoin can rise to $8,000 in the short term, as a cryptocurrency analyst Crypto Buzz claims.
Thank me later!!! pic.twitter.com/WEQwX3ZC7s
— CryptoBuzz👨💻🧘♂️👨💻 (@Crypto_Buzz_247) December 23, 2019
He believes that we will observe testing of this psychological mark pretty soon. Important to note is that CME Bitcoin futures contracts expire this week. Many experts believe that this factor may interfere with the strengthening of the uptrend.
Also, the traders will be less active on the New Year holidays, so most likely, the next week will pass under a bear flag.