Some global exchanges such as Binance opened in mid-2017. The exchange that has been in existence since 2012 is arguably more important in terms of historical price data, and Coinbase remains one of the main exchanges used by retail investors to date.

Bitcoin’s highest values ​​vary across all exchanges
2017 was a turbulent time for cryptocurrencies. When Bitcoin reached an all-time high, it experienced price changes from 30% to 50% in a week due to a lack of liquidity in the cryptocurrency exchange market.

Currently, record levels vary by about $ 300 between exchanges. For example, the price of BTC on Kraken and Bitstamp was $ 1,960 and $ 19,666, respectively. Today, the bitcoin price has reached a new high on all exchanges.

At Binance and Huobi, BTC peaked at $ 19,799 and $ 19,867, both of which also reached November 30th.

At the time of writing, Bitcoin has yet to break a new record with Bitfinex, Coinbase and Gemini, also known as whale exchanges due to their high liquidity levels.

In 2017 Coinbase was the leading exchange in terms of trading volume, and according to many traders, the fact that the price is above its all-time high, however, will be a further confirmation of the bull market’s official launch.

For many retailers, the $ 20,000 is an obstacle to overcome as it officially sets a new cap on premium digital assets.

An anonymous trader named “Bitcoin Jack” has identified Bitfinex as the most liquid exchange in this current group. Given that the record highs for Gemini and Coinbase are close to Bitfinex, the $ 19,873 level is an all-time high. He said:

Be careful though, as liquidity and open interest rates hit most exchanges. This means that until liquidity is restored, the amount of liquidity is relatively small in relation to the Olympics, allowing for a less closed sequence on both sides. As usual, Finex is the king of liquidity. ”
What’s next for Bitcoin?
Analysts at the chain, including CryptoQuant CEO Ki Yong Yoo, predicted that the whales would try to reach all-time highs and put up significant selling pressure.

With Bitcoin approaching a record price for Coinbase, there was a surprise sell-off that sent BTC to just $ 18,998 within two hours.

After increased volatility and selling caused by whales, the futures market took a hit and the exchange order books were disrupted.

There are two short-term scenarios that Bitcoin can see after its first attempt to break all of its highs.

First, the momentum in the Asian markets may continue during their morning session and this could be triggered to bring customer demand back again.

Second, Bitcoin could consolidate at as low as $ 19.873, and possibly between $ 19,000 and $ 19.873. This scenario is best for BTC to maintain sustainable growth as it would prevent the derivatives market from overheating.

Source: CoinTelegraph

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