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Bitcoin's 'Parabolic Rally': $BTC Price Breaks $19K, Now 4% From All-Time High


www.cryptoglobe.com 2020-11-24 16:20
Reading time: ~2 m

Bitcoin’s “parabolic rally” continued on Tuesday (November 24), taking the BTC above the $19,000 level for the first time since 19 December 2017.

Bitcoin surpasses $19,000 for the first time since 2017 https://t.co/ACaubR0cQc pic.twitter.com/j6AqDQWT4V

— Bloomberg Crypto (@crypto) November 24, 2020

According to data from CryptoCompare, around 10:00 UTC on Tuesday (November 24), the Bitcoin price surged past $19,000 on its way to an intraday high of $19,095.

Source: CryptoCompare

The last time Bitcoin was trading at this level was on 19 December 2017. During Bitcoin’s impressive bull run, which started on October 1, the BTC price from gone from $10,779 to $19,135 (where it is trading as of 12:25 UTC on November 24), i.e. a gain of 77.52% vs USD in just 55 days. Furthermore, since the start of 2020, BTC-USD is up 163.44%.

Source: CryptoCompare

The Bitcoin price is now just 3.84% from the all-time high (ATH), which was reached on 17 December 2017, which is probably why many Bitcoin HODlers would not be surprised if Bitcoin sets a new ATH today:

Wouldn't it be awesome if #Bitcoin his a new ATH today, 3 years to the day that WBD001 was released?

cc @VentureCoinist (24th November 2017) pic.twitter.com/ut2HIyjvLm

— Peter McCormack 👑 (@PeterMcCormack) November 24, 2020

Featured Image by “SnapLaunch” via Pixabay.com

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.


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