By Tofiq Aliyev
On Nov 24, 2020
Today is a good day for the Bitcoin community. Earlier this morning, leading cryptocurrency continued to rise and surpassed the $ 19,000 level. Bitcoin is now very close to its all-time high in 2017.
The rise, which continues for weeks and even months, is still ongoing. Bitcoin tries to break its all-time high. Investors and bitcoin enthusiasts are waiting for positive news on the market every second.
Last week has been very profitable for Bitcoin. Bitcoin first managed to break the $ 17,000 level and then the $ 18,000 level. The good news of today was that the bitcoin price surpassed $ 19,000. The most popular cryptocurrency in the world is currently less than $ 1,000 away from its all-time high. The excitement in the market is growing at the same rate as bitcoin is approaching a new record. BTC soared by nearly $ 7,000 in the last month and surpassed $ 19,000 on November 24. Thus, a new one has been added to the list of records broken in 2020.
According to CoinMarketCap, the cryptocurrency rate increased by 4.23% over the day, and by 13.19% over the last week. Although the price of BTC was in a consolidation phase for a short time, the key resistance of $ 19K was overcome. Currently, Bitcoin (BTC) is trading at the $19,214 level. The cryptocurrency community is looking forward to seeing $ 20,000.
Many crypto analysts have commented on this positive news in the world of cryptocurrencies. Some stated that a bull market is happening, the others believe that the bull market has not yet arrived.
Kory Hoang, CEO, and co-founder of the stablecoin platform Stably made the following statement about the recent rise.
“Retails have not fully jumped back into crypto again like the institutions had so it feels more like 2016 than 2017 right now. We definitely will see BTC break above $20K soon to make new all-time-highs likely by Xmas 2020. Once more retails and mainstream companies adopt crypto and blockchain technology, there’s no telling how high BTC can go.”