As Bitcoin Rally Continues, Leading Crypto Exceeded $18,000 Today
On Nov 18, 2020
As the Bitcoin rally continues, leading crypto exceeded $ 18,000 today. After reaching the $ 17,000 level on November 17, Bitcoin price has surpassed the $ 18k level on some crypto exchanges.
Bitcoin is currently trading around $ $17,792, according to data provided by CoinMarketCap. Its price has increased by 2.82% in the last 24 hours and 13.55% in the last week. The market cap of the leading currency is $ 329 billion. Bitcoin’s dominance in the market has increased 0.69% during the day and it is currently is 66.39%.
The leading cryptocurrency accelerated its upward momentum, which it started yesterday, skyrocketed to a very important level on November 18. Crypto enthusiasts believe that Bitcoin will refresh the record it broke in 2017.
Analysts expect more bullishness ahead, from a medium-term perspective, despite some short-term bearish fears. In a review last week, Mike McGlone said that Bitcoin is firmly on the road to $ 20,000. Bloomberg senior strategist said that unforeseen events could turn the market in favor of Bitcoin and lead to a parabolic rally in 2021.
According to publicly available market data, Bitcoin’s market cap reached an all-time high with the recent price surge. With the new data, the total market capitalization overshadowed the last $ 328.8 billion on December 16, 2017
No Stop in Positive News in the Bitcoin Market
Famous Game of Thrones star Maisie Williams asked Twitter if she should “buy Bitcoin.” She got 900,000 responses to her Twitter. Several well-known bitcoin investors supported her in Bitcoin investment. On the other hand, Ricardo Salina Pliego, the second-richest person in Mexico, announced that he moved 10% of his net worth (about $ 1.3 billion) to BTC. Thus, another new name has joined the bitcoin investors line.
Even Bitcoin critic Ray Dalio changed his mind. The head of the world’s largest hedge fund admitted on Twitter that he might be “missing something” about Bitcoin’s good progress.
As Bitcoin (BTC) continues to rise, new investors are beginning to show interest in the leading cryptocurrency. According to Glassnode data, it was observed that the Bitcoin network has created the highest number of new addresses since January 2018. As BTC breaks a different resistance every day, the number of Bitcoin addresses has increased.
Looking at the chart, we see an increase in the number of new addresses opened, with Bitcoin experiencing a serious upward movement. In short, as the Bitcoin price rises, people show more interest and start investing in the leading cryptocurrency.
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Disclaimer: All information provided in the content is for informational purposes only and should not perceive as investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.