December turns out to be another blockbuster month for Bitcoin as the flow of institutional investors injecting money into Bitcoin continues to increase.

Business intelligence company MicroStrategy announced it had closed down $ 650 million of convertible bonds at a rate of 0.75% due 2025. The company now plans to invest the net proceeds in Bitcoin after identifying its “working capital needs and other general corporate purposes.”

When institutional investors show such hunger to buy Bitcoin (BTC) near its highest point ever, it’s no surprise that the corrections were superficial.

Tyler Winklevoss said in a recent interview with CNBC that institutional investors are concerned about “impending inflation and the scourge of inflation with all the money being printed and the impetus from the COVID pandemic lockdowns”. That’s why they put money into Bitcoin.

Crypto market data daily view. Source: Coin360

Today the Bitcoin price has rallied again above the USD 19,000 level and it could challenge the USD 20,000 psychological resistance. If this level is broken out with conviction, it could create FOMO among retailers as many have not participated in the current rally.

If money also starts to pour in from private investors, Bitcoin can gain momentum and begin the next leg of the upward movement.

In addition to Bitcoin, there are a few altcoins that could participate in the upward move next week. Let’s take a look at the charts of the top 5 cryptocurrencies to discover the critical support and resistance levels to watch out for.