Today the price of bitcoin has again exceeded $19,000.
It had already happened a few days ago, on 21st November, but only for a moment and only on some platforms.
Today, however, it was different, both because it did so on all platforms and because it remained around that figure for more than a few seconds.
In fact, the price of bitcoin is fluctuating around $19,000, as it has not been since 2017.
In fact in the whole history of Bitcoin, only one day the average daily price was over $19,000, on December 17, 2017, when the maximum price over $20,000 was touched.
Moreover, there were only four days when the maximum daily price was over $19,000.
So today is only the fifth day in the history of Bitcoin where the maximum daily price was higher than this threshold, also because November 21 was not exceeded on all platforms, and the average maximum daily price at the end was $ 18,936.
Bitcoin at $19,000: the retracement risk
It is difficult to say whether this level will be consolidated over the course of the day, and will be maintained over the next few days, but there is at least one piece of news that allows us to imagine something similar.
PlanB reported it on Twitter, revealing that since yesterday PayPal, GrayScale and Square have started buying BTC again.
PayPal and GrayScale buy for their users, while Square could also buy for their company reserves.
The fact that, in spite of the very high prices compared to the historical ones, there are still sustained purchases, inevitably generates price increases. Therefore, if they continue, it is conceivable that the price could keep these levels, if not even exceed them.
However the enthusiasm on the crypto markets currently remains extremely high, and this makes to presume that it could also trigger a correction from one moment to the other, if not even a retracement.
Moreover the volumes are not particularly high, even if they are high, and if this on the one hand favors the increase of the prices because of the continuous purchases, it also means that it could trigger a correction in a relatively easy and fast way.