Bitcoin Breaches USD 16,000 For The First Time Since January 2018
Today, the most popular cryptocurrency, bitcoin (BTC), surpassed the USD 16,000 level for the first time since January 2018, getting closer to its all-time high of USD 20,000.
BTC was above USD 16,000 for around half an hour before correcting lower. At pixel time (10:39 UTC), BTC trades at USD 15,923 and is up by 3% in a day and 10% in a week. The price jumped by 41% in a month and 83% in a year.
It took a week for BTC to increase from USD 15,000 to USD 16,000. Other major coins are almost unchanged today.
BTC price chart:
As reported last week, according to Northman Trader founder Sven Henrich, as long as BTC can remain above the breakout trend line it has “significant technical room higher.”
“Also note BTC is showing some retracement action and has room lower for a potential retest of the trend line. But note that inside the larger wedge consolidation a potentially much more bullish pattern has emerged, that of a potential inverse which would point to near [USD] 17,000,” he said.
____
Reactions:
Possible, if an asteroid strikes the planet. Barring black swans or periodic white swans (we are due for asteroids… https://t.co/Jyt129a8c7
2020-11-12 10:45:00
Linas Kmieliauskas
Cryptonews
