Although bulls had firm control over Bitcoin (BTC) throughout the first half of the year, the second half was firmly controlled by bears, who pushed it as low as $6,400 before it incurred some notable upwards momentum that allowed it to climb towards $8,000.<\/p>\n
In the time since its relief rally from $6,400, the crypto has been trading sideways within the mid-$7,000 region, but the price action seen in the new year may prove to be overwhelmingly in favor of bulls, as multiple bullish factors could allow it to surge up to, or even above, its previously established all-time highs.<\/p>\n
Currently, Bitcoin<\/a> is trading up just over 1% at its current price<\/a> of $7,450, which marks a notable climb from its recent lows of $7,000 that were set earlier this week during a sharp and fleeting sell-off that was ultimately absorbed by buyers.<\/p>\n It is important to note that Bitcoin is trading up significantly from its year-to-date lows of $3,400 that were set in the earlier part of the year. Its massive climb from these lows means that BTC is on track to end the year on a bullish note.<\/p>\n Further enhancing this bullishness is a myriad of different factors discussed by CryptoBirb in a recent tweet thread, in which the analyst notes that 2020 will be a positive year for the cryptocurrency due to a recently formed golden cross, bullish descending channel, rising open interest on futures, and more.<\/p>\n We argue over short-term moves but big picture is clear\ud83d\udc40 — Adrian Zdu\u0144czyk, CMT (@crypto_birb) December 23, 2019<\/a><\/p><\/blockquote>\n\n
Let's rock 2020\ud83d\udcb0
Who's with me? pic.twitter.com\/SmbIu5CgFB<\/a><\/p>\n