Bitcoin breaching All time high

Will Bitcoin breach the ALL TIME HIGH?

At the time of writing this article, the price of Bitcoin is hoovering around USD 18,000 and lots of people are wondering what’s going to happen next.

The million dollar question is: Will history repeat itself and are we going to see a sharp drop like the one in 2017, or it’s going to be different this time round?

There are 2 aspects we will cover in this article. Fundamentals and Technicals. 

Technical point of view

Technical analysis seeks to predict price movements by examining historical data, mainly price and volume. In short, this analysis is based purely on charts and indicators.

As expected, since the price of Bitcoin is hoovering close to the the all time high, the price is experiencing resistance. As the name suggests, resistance is an area on a chart where the price momentum slows down and usually drops. As this is the last resistance for Bitcoin before breaking into unknown waters, this is a critical area called key resistance.

The key resistance is visible on the monthly timeframe and we’ll most probably experience a slow down or a correction for days, weeks and even months. The fact that the price didn’t drop as sharp as it did back in 2017 (when it was at the same price) and is still holding close to the all time high is an extremely bullish indicator.


 Hoovering close to Key Resistance

Fundamental Analysis

The current situation due to Covid has led to a number of drastic measures from governments and central banks. One of the measures was printing money. This incentive stimulated the economy at the expense of devaluing the traditional currency.

This issue is not noticeable by most, however more a more institutions are realising that it is wise to invest in different types of assets. Bitcoin (and other altcoins) is a decentralized asset and not affected by any institution, government or authority. This means that investing in crypto is a great way to hedge your investments against inflation and other market risks.

For example:

  • Gray scale Investment now holds more than 500,000 BTC in its Bitcoin Trust, with more than $8.35 billion worth of Bitcoin.
  • 170 year-old insurance company MassMutual is buying $100M worth of Bitcoin to gain exposure to a “growing economic aspect of our increasingly digital world.” Insurance firms are among the most cautious class of institutional investors, and MassMutual’s Bitcoin purchase could open the floodgates further to welcome more pension and insurance funds to the market.

If you do a quick google search you will find a never ending list of other institutional investors.

Apart from having institutional investors, blue chip companies such as Paypal have announced that they would let US customers buy, hold and sell bitcoin and use it to make payments. Bitcoin together with other major altcoins will be having more purpose and utility as they will be accepted at the 26 million connected merchants.

This is a BIG news, but the BEST is yet to come. Paypal will be launching these service in the EU. Mass adoption of crypto is around the corner and these are just few examples of what is currently materializing in the crypto space.


Based on the above research and analysis, it is a no brainer! It is still a great time to invest in Bitcoin although it’s close to the All time high.

No one can be 100% sure, and if you have ever had experience with financial instruments, you know that NO individual can know for sure what is to happen next. HOWEVER, we at CRYPTO ENTHUSIAST, we are CONFIDENT that this time round we’ll see a MUCH MUCH higher price than the last all time high.

Be patient, it happened already a few times and it WILL happen AGAIN. Waiting and holding onto crypto can be VERY rewarding.


We are here to help you make your best investment decision, if you are still unsure please drop us a message and we will be more than happy to assist.

If you think that you are ready to make the next step, check out Kraken page or have a look at our recommended TOP Crypto exchanges.

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