Most cryptocurrencies have been bullish in this year, and are expected to do even better in 2021.The year 2020 is ending on a good note on the side of the cryptocurrency industry. The year has seen governments begging citizens to use digital payment solutions instead of fiat money.
Bitcoin (BTC) price is now in a sideways trend as buyers fail to break the $16,000 resistance. Today, the king coin is trading at $15,366 at the time of writing. In the previous uptrend, the upside momentum was terminated at the $15,888 high.
Bitcoin has remained stable after it turned down on April 30, because of the bulls’ inability to sustain the uptrend above $9,200. The market retraced to $8,597 low and resumed fluctuation between $8,500 and $9,500.
Despite its sharp drop to $0.21, the bulls are aggressively defending the current support. Recently, Ripple’s bulls made another attempt at $0.23500 resistance, but the upward move was repelled at $0.22500.