In the last year, the market of Bitcoin experienced one of the most turbulent times of its existence. In the last year, there were bull markets, bear markets, and sideways markets. This paper deals with the most apparent virtual currency, Bitcoin and the evidence of price clustering and the presence of psychological barriers of investors. The primary objective of this paper is to find out if the last digit and last two digits of the maximum (or minimum) price of Bitcoin tend to cluster around digit nine (or zero). Paper uses price clustering to determine if the theory of behavioural finance also implies conditions of the Bitcoin market, namely if investors in Bitcoin tend to see the resistance line when the maximum price ends with digit nine and if the minimum price with last digit 0 signals the support line. Results of the 2191 observations showed robust results in terms of support line, however not so unambiguously in the case of resistance line. The paper suggests that Bitcoin is changing its reputation as a solely speculative asset and transforming into a long-term investment strategy.
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