fxs_header_sponsor_anchor

Breaking: Bitcoin hits $15,000 for the first time since January 2018

  • Bitcoin has finally surpassed the $15,000 barrier after a massive 6% price spike in the past 24 hours.
  • The digital asset has ignored the uncertainty surrounding US presidential elections and continues climbing higher.

In our last article, we discussed the possibility of Bitcoin hitting $15,000 as it was facing very little resistance to the upside. With very little opposition above, it seems that Bitcoin has no limit and will likely hit its all-time high at $20,000 again. Despite the current price, it can be observed a massive spike in the number of holders with 100-1,000 coins from 13,754 on October 30 to 13,986 currently. This metric shows investors are still extremely interested in BTC even though the price is already quite overextended. 

 

BTC/USD daily chart

Bitcoin is closer than ever to its all-time high at $20,000 and it seems to be facing very little resistance to the upside. In our previous analysis, we saw that BTC's price is free to run up to $16,322 which is the weekly high of January 2018. 

On top of that, the In/Out of the Money Around Price (IOMAP) chart continues showing very little resistance to the upside well until $17,090. From $14,869 to $17,090, only 226,000 BTC were bought. In comparison, the support area between $13,517 and $13,961 has a volume of 840,640 BTC, more than tripling the Bitcoin bought above $14,869, which means there is extremely low selling pressure above. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.