Coming as the latest development in the cryptosphere, the price of one Bitcoin has made a new All Time High of 2020 at $15,950. At this point, some analysts are hinting at a sharp drop due to excessive greed in the fear and greed index. However, a couple of cryptocurrency analysts are also predicting a sustained rally to seventeen thousand USD.
On a twenty-four-hour chart, the price of Bitcoin upsurged by over ten percent protruding the $15,000 mark for the 1st since January 2018.
As per Coinmarketcap data, the BTC/USD pair momentarily upsurged to the mark of fifteen thousand nine hundred and fifty USD before going back over to 15,500 USD. As per digital asset analytics firm Messari, BTC has now spent over twenty days above the resistance level of 15,000 USD and nineteen days above 15,109 USD mark. This signifies around 0.4 percent of the cryptocurrency’s life since it was formed in the year 2009.
In response to the fresh price movement, Grayscale CEO Barry Silbert mentioned, “People will never again say Bitcoin is dead.”
The recent bullish performance of Bitcoin is seen amidst breaking news that the United States Department of Justice will take hold of over one billion dollars in Bitcoin from an unidentified hacker who penetrated a Silk Road cryptocurrency wallet.
At press time, Joe Biden, the United States presidential candidate, is only a few electoral votes away from triumph, with officials continuing to count ballots in different states.
As per the recent update from FirstPost, Biden broadens Georgia lead to a thousand votes. On the other hand, the Trump is allegedly struggling to uphold lead in Pennsylvania.
What do you think about the US President elections and its impact on the volatility and prices of crypto assets including Bitcoin and Ethereum? Let us know in the comments below!