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We are here with a new development in the world of cryptocurrency. Bitcoin has broken its 2023 record. Let us mention that the flagship of cryptocurrencies has surpassed the $38,450 level while writing this article. Bitcoin has started December with a new sense of rise due to this increase. Overcoming resistance will lead to new levels being seen. Let’s look at the details.
Bitcoin Breaks 2023 Record
Positive developments continue in Bitcoin, bringing with it a price increase. BTC has witnessed a significant increase in hash power in recent days. This situation especially indicated how strong the network was.
Another important development was related to the decreasing BTC in exchanges. The withdrawal of Bitcoin from exchanges suggested a high expectation of a price increase. These developments are now reflected in the current price.
A Significant Resistance Overcome for Bitcoin
Today, we witnessed a significant resistance being broken for Bitcoin. For a long time, the $38,000 region had acted as resistance for Bitcoin. BTC broke through this resistance during the night and solidified its position. It then began to push itself towards new records.
Passing the 2023 record level of $38,450 brought with it a new record level of $38,694. Now the question on everyone’s mind is about the new direction for BTC. Analysts had various opinions on this point.
Analyst Michaël van de Poppe recently pointed out the $38,500 level, emphasizing it as an important resistance level. According to the analyst, overcoming this level will lay the groundwork for a journey towards $40,000. Bitcoin will then reach the $42,000 levels.
The leader of cryptocurrencies, BTC, is trading at $38,609 levels while writing this article.
