Bitcoin is on a high and it seems there is no going back at the moment. After raising waves with its $14,000 mark in the last couple of days, Bitcoin has once again surprised the crypto community by crossing even the $15,000 threshold on November 6, 2020. It’s the highest price-point the coin has ever reached since January 2018. And as Bitcoin seems to be fast touching $16,000, buying and selling craze scales up out of FOMO tension.
Riding on an upward move, Bitcoin has shown over 12 percent surge in the last 24 hours. At present, the coin is sitting at a whopping 15,980 USD and is projected to rise further.
Bitcoin has shown an upward growth over the last 6 months and has rallied over 30 percent in the last month. Per the market experts, the results of the US Presidential election could be a catalyst in BTC’s latest dramatic rise this week. Although the results are yet to be declared officially- but Biden’s victory over Trump is almost certain. Currently, Biden seems to be leading far ahead with 264 while Trump is lagging behind with 214.
Analysts have observed Bitcoin price is presently at 80 percent of its ATH, the closest possible the coin could ever be in its road to full recovery.
Some of the leading market experts had earlier predicted that Bitcoin might break over its 14k USD resistance level and hold the potential to reach its historic 2017 ATH this year as well.
Investors are going crazy
With Bitcoin back in its stellar form once again, investors are fast rallying up to sell and buy the coin in increasing numbers. The craze is on extreme high of late- so much so- that “Fear & Greed Index” currently shows the mark on 90 or “extreme greed” spot. Last time the index was this dramatic high was in 2019 June when BTC touched almost $14k- the highest BTC price for the year.
However, seasoned investors and crypto market experts are advising to keep check on emotion-based selling.
“BTC seems to be back to its glorious form once again and that’s a great news for Bitcoin investors and traders no doubt. The pace at which the coin is rallying up since the last few days, it is expected to touch its ATH by the end of this month only. Yes, it’s the golden moment to sell, trade or buy Bitcoin but wait- practice caution. We all know what happened in 2018 just after the coin reached its historic ATH in 2017. The crypto market is highly volatile so it’s better not to give in to emotion-based selling and buying”, stated Sydney Ifergan, leading crypto expert and the CEO of The Currency Analytics.
Would BTC cross its ATH this year?
Looking at the current trends, crypto and finance experts are expecting further rise of the coin by the end of this month or the early quarter of December 2020. However, the conic banking giant JP Morgan has stressed that with Bitcoin fast becoming a stable alternative to gold, the coin might even cross its ATH in 2020.