Bitcoin reaches a new all-time record of $24,210 on Coinbase, while volatility ensures that the weekend rallies aren’t over yet.
The price of Bitcoin (BTC) set a new historical record on December 19, as the markets continued to surprise with weekend trading.
According to Coinmarketcap, Bitcoin’s market capitalization is currently $444,953,723,414.
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The price of Bitcoin has just reached another all-time high
Data from Cointelegraph Markets and Tradingview showed that the BTC/USD pair just eclipsed its own record level set this week, reaching $24,210 on Coinbase before falling back.
Volatility was high as the previous all time high of $23,777 only dropped before the resistance was activated once again. According to the exchange order book data, sellers are prepared at $24,000, and that area now forms a psychological barrier currently under attack by the bullish market.
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Cointelegraph market analyst Michaël van de Poppe tweeted, „Come on, another all-time record over the weekend,“ looking closely at the renewed energy of Bitcoin’s markets.
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Bitcoin exchange buying and selling areas (white = more orders). Source: Material Indicators
The trader notes that $18,500 is still a support to watch
The movement continues a trend that has developed in recent weeks, the significant action of the Bitcoin price occurs during the weekends and not strictly during the week.
On Saturday, meanwhile, Van de Poppe urged caution, arguing that crucial support is still far below the chart for the BTC/USD pair at $18,500.
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„These vertical spikes are not sustainable for long. Therefore, at some point a correction will occur. However, predicting when it will happen is a guess, since the price of Bitcoin can easily reach $30,000 and then suffer a 30% correction,“ he said.