Bitcoin price rallies 22% over one month; will it reach record-highs in 2020?

Bitcoin has rallied 22 percent over the past month. While the premier cryptocurrency was at $6,538.01 on December 18, it touched $8,886.62 on January 15. Bitcoin was up over 80 percent in 2019 after it had declined more than 70 percent earlier.
Over the past week, Bitcoin jumped 7.1 percent and traded as high as $8,800. As they often depend on Bitcoin’s movement, altcoins such as Litecoin, Bitcoin SV and Ethereum have also seen a significant rise in volume. However, this may not last long as cryptocurrency analysts suspect a pullback soon.
Josh Olszewicz of Brave New Coin suggests a “long squeeze” as there are no RSI or volume divergences at the moment. When long positions start to unwind, a significant price movement downwards will result in an exaggerated move further, he says.
 
 
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