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Bitcoin is priced at $ 15,000 as Trump and Biden dispute continues

November 5, 2020

Bitcoin (BTC) hit $ 15,000 on November 5th, as the excitement for the US elections spread from the macro markets.

Data from Cointelegraph Markets and TradingView showed the BTC / USD pair crossed the $ 15,000 mark repeatedly throughout the day, it eventually broke to post press time highs of $ 15,200.

The price of BTC increases by $ 1,000 in one day

The move seals a busy day for Bitcoin, that it was trading below $ 14,000 just 24 hours ago. The last time the BTC / USD pair saw USD 15,000 was in early January 2018.

BTC / USD weekly chart. Source: trade view
Bitcoin is priced at $ 15,000 as Trump and Biden dispute continues
Bitcoin is priced at $ 15,000 as Trump and Biden dispute continues

In response Many well-known Bitcoin numbers determined that it was time for the largest cryptocurrency to take a decisive step. The Macro investor Dan Tapeiro, In particular, he praised the pricing models of the quantitative analyst PlanB.

“Now enter the so-called” moment of realization “for #Bitcoin.”he tweeted.

“Let us (PlanB) give some credit here. I like this model that peaked at the end of 17 and especially peaked at the end in early 19. We are now in what I call the Hodler sweet spot. Get paid to sit. “

As Cointelegraph reported, Some expected that $ 15,000 would be a major drag that would temporarily wipe out Bitcoin’s daily profits of over $ 1,000.

Others argued that, technically, there were very few barriers to the new all-time highs after Bitcoin removed resistance at $ 14,000 and then at $ 14,500.

“I’ve seen this show before”added Plan Breferring to the runs bullish 2013 and 2017.