Bitcoin

A bitcoin price of $ 20,000 would be easy to achieve after a breakout of the previous resistance

Bitcoin (BTC) price hit new highs of over $ 18,750 on November 20 as the recent expanded uptrend continued to delight investors.

The BTC price is closer to historical highs

Data from Cointelegraph Markets, Coin360 and TradingView showed this The BTC / USD pair quickly rebounded after hitting the $ 18,000 level, surpassing its previous high of $ 18,420 to continue rising.

At the end of this issue, Local highs of $ 18,817 moved Bitcoin from its all-time highs since December 2017 to just $ 1,250.

1-hour chart of the BTC / USD pair. Source: trade view
A bitcoin price of $ 20,000 would be easy to achieve after a breakout of the previous resistance
A bitcoin price of $ 20,000 would be easy to achieve after a breakout of the previous resistance

The most recent gains have been made as altcoins also hit historic levels that have not been proven in several years.

Talk about the current market strength and future prospects, Tom Lee, co-founder of Fundstrat Global Advisors, was more optimistic than ever.

“The halving took place this year, which is of course historically good for the price. Bit’s story also goes that the year after the halving is much more important,” he said Yahoo! Finances.

“Bitcoin was the best performing asset last year in 2019. It is collapsing this year; it is only destroying all other hedges and asset classes this 2020. But in 2021 I think Bitcoin could be the year of the fireworks People interested should realize that the best is likely to come. “

3-month chart of Bitcoin versus Gold. Source: Skew

Data from the monitoring resource Skew underscores the extent to which Bitcoin has outperformed macro alternatives. Bitcoin’s returns to date are 160%, while gold has only hit 22% and the SP 500 has hit an even less attractive 10.9%..

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