The price of Bitcoin (BTC) has reached a new high in 2020, will it manage to hold up? Will it continue its upward trend? We’re telling you!
According to CoinMarketCap, the price of Crypto Bank scam managed to position itself today at USD 13,680, marking a new high of 2020.
What have the Bitcoin whales done while BTC is reaching its annual high?
Enthusiasm is felt in the crypto market
Over the past few months Bitcoin has been able to excite the crypto market and today is one of those days. The leading crypto didn’t see these price levels since July 2019 when it reached USD 12,500.
To be more specific, according to CoinMarketCap data, BTC hasn’t been above USD 13,000 since January 2018 when it reached its historical high.
It’s worth remembering that in March of this year, many in the crypto community gave up hope for crypto after it collapsed as the pandemic progressed.
Now, looking back, it’s ironic that since then, Bitcoin has been in a slow but steady upward race. Clearly these short-term gains further fuel the long-term upward outlook.
According to CoinTelegraph analyst Michaël van de Poppe, the Bitcoin price chart shows a clear resistance zone between USD 13,000 and USD 14,250; the latter level being the next big hurdle the crypto market has to face before seeing BTC at USD 20,000.
However, Poppe suggests we don’t trust ourselves. He explains that it is unlikely to advance all at once, as this is the first test of this resistance zone.
Cole Garner, a crypto analyst, pointed out today that the BTC/USD could soon end its bullish run and move downwards in a „hellish candle“ event on the daily chart.
User moved USD 1.1 billion in Bitcoin
Bitcoin is much more interesting
Grayscale Investments published its report entitled „Bitcoin 2020 Investor Study“ where it found an increase in interest in Bitcoin as an investment among respondents.
„In 2020, more than half (55%) of the respondents expressed interest in Bitcoin investment products,“ Grayscale wrote in its October 2020 report.
That’s a 36% increase over the 2019 survey.
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Binance’s crypto, BNB, could be headed for an all-time high
As we reported today in Crypt Trend, Binance Coin, BNB, took some steps that brought it closer to its previous all-time high.
According to our analyst it seems quite possible that the price of Binance Coin will reach a new historical high in the near future.
For the most part, crypto would be driven by the positivity of the crypto market.
Binance Coin is headed for an all-time high
November is the date for the launch of the Ethereum 2.0 deposit contract
According to Danny Ryan, developer of ETH 2.0, the Ethereum 2.0 deposit contract will be launched in two weeks.
The news has caused some skepticism from the crypto community as Ethereum 2.0 has experienced several delays. However, it seems that its developers are finally approaching the crypto release date.
The launch of the Ethereum 2.0 deposit contract will be in November