Highest weekly close since early 2018: 5 Bitcoin price tips this week

Bitcoin starts a new week still at $13,000 and wholly unfazed by problems in the global economy - what's in store next?

Last week's announcement that payment giant PayPal would support Bitcoin and three altcoins from 2021 continues to have an impact on price action.

As Cointelegraph reported, multiple corporations have added Bitcoin to their reserves in recent weeks and months in a concerted effort to reduce exposure to fiat currency inflation.

At $13,070, Bitcoin sealed its second-highest weekly close since January 2018 on Sunday and its sixth-highest ever.

The U.S. dollar currency index, with which Bitcoin has shown considerable inverse correlation, has begun to trend up in recent days, while stocks are starting the week on a downward slope.

In a further suggestion that Bitcoin may take a breather in the coming weeks, network fundamentals are showing signs of cooling off after recent growth.

For Bitcoin bulls the old adage that price follows hash rate remains firmly in play.

"As BTC dominance climbs, this distracting noise will die off and we'll see price catch up to hash rate."PlanB: January 2021 will see "Vertical" Bitcoin bull market.

For quant analyst PlanB the coming months should provide more of a shock to the system for Bitcoin market participants before a slowdown and consolidation phase begins.

Creator of the stock-to-flow family of Bitcoin price models, PlanB has been wholly satisfied with Bitcoin price performance since the latest block subsidy halving in May. Price has conformed exactly to stock-to-flow's demands, and the latest jump has proven no exception.