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<\/p>\nBitcoin the most dominant crypto yet showcased its dominance in the crypto market by hitting 70.8% dominance share. The rally mirrors the similar movement of the 2017-18 Bitcoin bull rally, where-in the BTC price touched its peak within days of bull run initiation.<\/p>\n
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Currently, Bitcoin price was attempting hard to touch $20,000 and was rejected multiple times in between $19K and $20K. As the price crossed $20K, on 16th December, it had a historical bull run by doubling the price within a month.<\/p>\n
At the time of the writing, the BTC price is $41,261.64 with a jump of 9.45% with a jump of nearly 25.75% in the trading volume that stands at $98,140,150,578. Also, the bitcoin active address has hit its all-time high as per the data on the analytics platform Glassnode.<\/p>\n
The current bitcoin bull rally is surging massively where-in the technicals have very less role to play. As the current price chart has no resistance levels, the FIB levels were considered as the resistance level at $40K as per analysts, Ivan on Tech.<\/p>\n
However, the massive bull rally flipped the resistance level into support levels at the same levels. As per the analyst, the next target to hit is in between $46,000 and $47,000. However, many analysts believe and hope the bull runs to hit $50,000 very soon before any correction or retracement phase that might pull back the price below $40,000 again.<\/p>\n