BTC/USD climbs to over $18,800 in Friday trading, less than $1,250 from its historic highs in 2017.
Bitcoin (BTC) hit new highs in excess of $18,750 on Nov. 20 as its latest extended bull run continued to delight investors.
Data from Cointelegraph Markets, Coin360 and TradingView shows BTC/USD climbed swiftly after reclaiming $18,000, taking out its previous high of $18,420 to continue rising.
At press time, local highs of $18,817 took Bitcoin to within $1,250 of its all-time highs from December 2017.
The latest gains come as altcoins have also begun to hit historical levels that have remained untested for several years.
Speaking about the market’s current strength and future prospects, Tom Lee, co-founder of Fundstrat Global Advisors, was more bullish than ever.
“The halvening happened this year, which of course historically is good for price, bit history also says that the year following the halvenings is much more important,” he told Yahoo Finance.
“Bitcoin was the best performing asset last year, 2019. It’s killing it this year; it’s just crushing all other hedges and asset classes this year, 2020. But in 2021 I think Bitcoin could be the year of the fireworks, so if people are interested, they really should realize that the best is probably yet to come.”
Data from monitoring resource Skew underscores just how much Bitcoin has outperformed macro alternatives. Bitcoin’s year-to-date returns total 160%, while gold has managed just 22% and the S&P 500 an even less appealing 10.9%.
[…]
Learn more
The Tulip Prize [1] was awarded yesterday to François Villeroy de Galhau for a speech…
Senator Elizabeth Warren, supported by other senators, today introduced a bill titled the “Digital Asset…
President Volodymyr Zelensky today signed the “virtual assets” law adopted by the Ukrainian parliament on…
Joe Biden today signed an executive order asking the federal government to assess the risks…
After the implementation of the Ethereum blockchain in the consensus Proof-of-Stake model called “Beacon Chain”,…
It hung in the face of investors, this correction. And if the movements of Bitcoin…
Leave a Comment