Receive all Cointelegraph news immediately in Telegram.
December 14, Dollar under pressure. Bitcoin price grows and may reach $450.
Bitcoin price analysis
Bitcoin price analytics by Albert Libenzon: today Dollar will be under pressure, while Bitcoin price continues to grow.
Bitcoin price, BTC/USD, Cryptocurrency, Bullish trend, US, Eurozone, Analytics
On Friday, BTC/USD pair exchange rates soared to $450 but then dropped rapidly to $420. Currently, Bitcoin price is at the level of $ 434 and the bullish trend continues.
Todays situation with Dollar rates is not that clear. Although the statistics on retail sales was positive, these data haven’t inspired confidence in investors that the inflation rate will stablize. Although total retail sales increased by 0.2% in November, retail sales for the year decreased from 2.2% to 1.7%.
The Eurozone now seems to have much more convincing indicators. In Italy industrial production grew by 0.5% against the expected 0.3%. Moreover, the Eurozone will publish data on industrial production today (until now it forecasted the growth for 0.3%). Also, in UK, real estate prices fell for 1.1% in December.
Such a difference in major economic indicators in the US and Europe give no favour to the US Dollar.
Today the Dollar will be under pressure, which should help the price of Bitcoin to continue to approach a price-point of $450.
Today, December 14, the resistance level is $450, and the support level is $410.
The analysis and prognosis are the personal views of the author and are not a recommendation to buy or sell Bitcoins.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
One fine body…
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact:
Reset letter sent.
Please checkout your mailbox for password reset details