Bitcoin is still holding above $14,000.
During the past 6 sessions, Bitcoin has never closed below $14,000 even though it did hit the intraday low of $10,400 6 days ago. Yesterday, it dipped below the $14K level during the day, but managed to close above it. From the technical analysis perspective, closing below $14,000 does not look good for the Bitcoin bulls.
Yesterday, South Korea announced that it was weighing its options on how to eliminate the frenzy of the Bitcoin speculation. Such options include a potential shutdown of some Bitcoin trading exchanges.
While for most of the financial markets, today is the last trading day in 2017. It’s not for Bitcoin though. The trading will continue throughout the weekend. We’ll have 2 more days left to wait and see where Bitcoin ends in 2017. One thing for sure though is it’s been a great year for the Bitcoin bulls. Bitcoin opened at $993 on January 2nd, 2017. Today, it is worth more than $14,000 at the moment.