Bitcoin News

Bitcoin (BTC) hit $15,000 on Nov. 5 as excitement over the U.S. election spilled over from macro markets. 

Data from Cointelegraph Markets and TradingView showed BTC/USD tackle the $15,000 barrier repeatedly throughout the day, finally breaking it to post press-time highs of $15,200.

BTC price climbs $1,000 in a day

The move seals a hectic day for Bitcoin, which just 24 hours ago traded below $14,000. The last time that BTC/USD saw $15,000 was in early January 2018.

BTC/USD weekly chart. Source: Tradingview

Reacting, many well-known Bitcoin figures noted that it was high time for the largest cryptocurrency to make a decisive move. Macro investor Dan Tapeiro in particular praised the price models of quant analyst PlanB.

“Now enterring what is called the ‘moment of realization’ for #Bitcoin,” he tweeted.

“Let’s give some credit to (PlanB) here. I like this model that picked top in late ’17 and most importantly bottom in early ’19. We are now in what I call the hodlers’ sweet spot. Get paid to sit.”

As Cointelegraph reported, some expected $15,000 to pose major resistance that would temporarily quash Bitcoin’s $1,000-plus daily gains.

Others argued that technically, there was very little standing in the way of new all-time highs once Bitcoin overturned resistance at $14,000 and then $14,500.

“I have seen this show before,” PlanB added, referencing the bull runs of 2013 and 2017.

Products You May Like

Articles You May Like

New Peer to Peer Exchange Provides Africans with an Alternative to Paxful
Bitcoin explained in hindi | Should you invest in Bitcoin in 2021? | Ankur Warikoo Investing Tips
Voyager Token (VGX) gains 926% as mergers and acquisitions bring new users
Analyst: Chinese New Year could drive Bitcoin selling pressure
A Dangerous Technical Pattern In Bitcoin Is Back, And It Is Breaking Down
Crypto Crime Fell Sharply to Only 0.3% of All Cryptocurrency Activity in 2020

Leave a Reply

Your email address will not be published. Required fields are marked *