On Saturday, October 31, bitcoin prices at one point rose to around $14,100 (Bitstamp), setting a new 2020 high.
Bitcoin price last traded above this level almost three years ago in January 2018.
Popular analyst PlanB called the breakout of $14,000 the best gift for the 12-year anniversary of the bitcoin white papper.
Best present on #Bitcoin whitepaper day! pic.twitter.com/zYZ0nrN3qE
— PlanB (@100trillionUSD) October 31, 2020
As of writing, the price had retraced to about $13,700. The move was accompanied by rising trading volumes.
The $13,000 psychological level was breached on October 21.
As Bloomberg Intelligence’s senior commodity strategist Mike McGlone suggests, the fair price of the first cryptocurrency sits at $15,000.
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