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Price analysis 12/2: BTC, ETH, XRP, LTC, BCH, LINK, DOT, ADA, BNB, XLM

Published 12/02/2020, 01:37 PM
Updated 12/02/2020, 08:20 PM
Price analysis 12/2: BTC, ETH, XRP, LTC, BCH, LINK, DOT, ADA, BNB, XLM
BTC/USDT
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BTC/USD
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BCH/USD
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Bitcoin price hit a new all-time high above $19,892 on Dec. 1. This is a significant event because it proves that the rally in 2017 was ahead of fundamentals but not a bubble. Generally, when a bubble bursts, it takes several years for the price to cross the high made during the bubble.

For example, the Japanese stock market bubble came after a high was made way back in 1989, and that level has not been conquered yet. Similarly, silver’s high close to $50 per ounce was made in 1980, and the price came close to that level only in 2011. The Nasdaq made its high made during the dot-com bubble in 2000, and this was only crossed in 2015.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView
BCH/USD daily chart. Source: TradingView
LINK/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XLM/USDT daily chart. Source: TradingView

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