Bitcoin (BTC) traded around $ 19,400 higher above last week’s low, where prices have recorded their highest weekly close.
Over the past few weeks, investors have seen the asset traded in the price range of around $ 18,500 and $ 19,500 during volatile markets.
Most expect a sharp decline while analysts are more confident with Bitcoin jumping to higher levels.
The allegation is based on the ongoing Elliot Wave phenomenon on BTC, potentially bringing the price of Satoshi Nakamoto's assets to $ 20,000 and beyond.
For the record, Elliot Wave is a form of technical analysis, describing expected market movements following investor psychology and other trends.
The BTC price is expected to exceed the $ 20,000 resistance level starting in the next few weeks.
As crypto asset analyst Philip Swift points out, Bitcoin over the past four years has undergone a change in price movements in mid-December, around December 15 and 18.
"Maybe nothing will happen this year or a normal price correction in mid-December before the new bullish parabolic movement."
At the time of writing, Bitcoin is trading at $ 19,260, slightly down 0.59% from the record high, $ 19,449.
