Post
Topic
Board Bitcoin Discussion
Re: Why Bitcoin has not been able to hit $20k price in 2020?
by
Bitcoin_Arena
on 13/12/2020, 23:00:18 UTC
It had always retraced anytime it reaches $19K plus.

What do you think is the reason?
The Answer is very simple. The $20K region is now considered a major resistance region and breaking through it will be a major milestone in Bitcoins Price history. If you expected Bitcoin to continuously rise all the way from $10K and just breakthrough the $20K price minus any corrections, then you were totally wrong. That's not how the market works.

There will always be retractions until the buying power is strong enough to push past the resistance region.
IMO, I never even expected Bitcoin to get so close to $20k this year. I think things will be greater next year.