Record high within reach – Bitcoin jumps last resistance before 20,000 US dollars
Bitcoin was able to jump over 18,800 US dollars on Friday and is approaching the previous record high
Yesterday, November 20, Bitcoin (BTC) climbed to more than 18,750 US dollars, which means that the upward trend is still in full swing.
Bitcoin approaches record high
As the data from Cointelegraph Markets, Coin360 and TradingView show, BTC/USD was able to climb further by a Immediate Edge review after jumping above $18,000, pulverising the previous high of $18,420, which may have been the last major resistance.
At the interim daily high of 18,817 US dollars, Bitcoin was only just under 1,250 US dollars away from the previous record high of December 2017.
Bitcoin is not the only one currently flying high, as many old coins are also slowly but surely recovering to prices that were last achieved several years ago.
Analyst Tom Lee from the investment consultancy Fundstrat Global Advisors estimates the current strength of the crypto market to be correspondingly high.
„The Bitcoin halving this year has been good for the share price, which historically has always been good for the share price. However, the past also teaches us that the following year of a halving is even more important,“ he told Yahoo Finance.
„Bitcoin was the best performing financial product in 2019, and this year it is even stronger. In 2020, it will still outperform all other investment products and asset classes. And yet I believe that 2021 is the year when it will really take off. So the best is yet to come.
The data from Skew’s crypto-market researchers underline how much better Bitcoin has performed compared to other major financial products. While the crypto currency has achieved an annual return of 160% so far, gold is still at 22% and the important S&P 500 stock index is only at 10.9%.