The $ 15,000, here we are: Bitcoin (BTC) has come a long way since it crossed the $ 10,000 mark at the end of July 2020, never to close below it.
Today’s kick-off, November 5, 2020, can be explained by the classic formula: dollar misfortune makes bitcoin happy.
Halfway between $ 10,000 and $ 20,000
Bitcoin surpassed $ 15,174 today on Bitstamp, its highest since January 9, 2018.
The BTC, equities and gold are taking advantage of the greenback’s weakness to rally bullish. The dollar lost more than 0.88 points.
Bitcoin has now spent over 100 days above $ 10,000 and continues to race to a new ATH.
It is trading over $ 14,970 at the time of writing. The BTC could end today with a daily gain of between $ 900 and $ 1,000.
The next few days will show if there really is little resistance to a new ATH once the BTC crossed the $ 14,500 line as some analysts suggest.
We know the loser and the winner
The bulls continue to gain strength by grazing on the greenback which is gradually devaluing.
It doesn’t matter which candidate comes out on top in these controversial US presidential elections, Joe biden or Donald trump should soon turn the printing press with the planned second wave of distribution of gift certificates to Americans.
The inflation of the dollar in the medium and long term will greatly benefit a Bitcoin who appears to have started a bull run since October 2020.
The 5-day average of BTC is now at the 14,100 USD level. How high will the daily RSI (14) rise, which currently stands at 82?
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
We continue to count the ballots. The dollar counts the points it loses, the bitcoiners calculate the profit they are making on the back of the greenback. A disunited United States, dollar inflation set to escalate: ingredients for a potion that should give bulls “superhuman” strength. The 16,500 USD – 17,000 USD are not far, the 20,000 USD is more possible than ever for this month of November 2020. Investors will take refuge in droves behind BTC if chaos reigns in Uncle Sam’s country .
Litecoin, welcome in the Silver Age