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5 reasons why Bitcoin price just reclaimed $33,000

Published 01/05/2021, 01:54 PM
Updated 01/05/2021, 03:40 PM
5 reasons why Bitcoin price just reclaimed $33,000
BTC/USD
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BTC/USD
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Two weeks ago, few investors would have expected Bitcoin (BTC) price to rally any higher than $20,000. In fact, most had forecast a $30,000 BTC price by mid-2022 or late 2023 at best.

This means that many holders were likely caught by surprise as BTC price surged to $34,800 just 17 days after crossing the $20,000 mark.

BTC/USD 4-hour chart. Source: TradingView
Top cryptocurrencies weekly performance. Source: Nomics
Grayscale Bitcoin Trust premium. Source: TradingView and Grayscale
BTC perpetual futures funding rates. Source: Digital Assets Data
BTC Twitter Users Activity vs. USD price. Source: TheTie
BTC options put-to-call ratio. Source: Cryptorank.io

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