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Bitcoin Fall In Price by 5%, Failed to Rise Above $20000




The world's most popular cryptocurrency, Bitcoin failed to climb above $20000 has it tumbled this week as much as 5.46%, down to $17,725.84 as at the time of writing this post. it was the biggest dropped since the coronavirus pandemic slammed markets in March, and it reversed the weeks-long rally that placed the token within a hair of its record high.

Bitcoin raised within #300 of an all-time high on Wednesday when it reached an intraday high of $19,494. Everyone was expecting it to rise above $20000 for the first time as the coin cleared the $19,000 resistance level on Tuesday but couldn't.

Bitcoin enjoyed extraordinary momentum heading into the Thanksgiving holiday. PayPal's adoption of cryptocurrencies sparked the token's rally in October, and bullish commentary from wall street giants including Mike Novogratz and Rick Rieder further boosted prices.

However, Craig Erlam, a senior market analyst at Oanda Europe said on Friday that "bitcoin remains as volatile and highly speculative as ever."

"There may be more reasons to be bullish on cryptos than there were three years ago, but some things simply haven't changed."



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