The Bitcoin exchange rate rose up to 15,300 US dollars. The rise is reminiscent of the 2017 bull run.
Bitcoin (BTC) reached $15,000 on November 5. The excitement surrounding the US elections continues.
Data from Cointelegraph Markets and TradingView showed that the BTC/USD pair repeatedly breached the $15,000 mark throughout the day, eventually peaking at $15,200.
BTC price climbs around $1,000 in one day
As reported, some people expected $15,000 to be a major resistance, which would temporarily cancel out the daily gains of The News Spy of over $1,000.
This movement was the result of a hectic day for Bitcoin. Just 24 hours ago it was under $14,000. The last time the BTC/USD pair reached $15,000 was in early January 2018.
In response, many well-known Bitcoin celebrities declared that it was high time for the largest crypto currency to make a decisive move. The macro investor Dan Tapeiro praised in particular the course models of the analyst PlanB.
“Now the so-called ‘moment of realization’ is coming for #Bitcoin,” he twittered.
“Let’s give PlanB some credit here. I like this model, which predicted the peak at the end of 2017 and especially the bottom in early 2019. We are now at the so-called ideal point of the Hodler. You get paid to sit around.”
Others argued that technically, very little stood in the way of a new all-time high after Bitcoin had overcome the resistance at $14,000 and then at $14,500.
“I’ve seen this before,” PlanB said in reference to the bull runs in 2013 and 2017.
Bitcoin price reaches $14,700 Highest level since January 2018
In the midst of the U.S. elections, Bitcoin was able to rise strongly and climb far above the resistance at $14,000.
Bitcoin (BTC) reached 14,700 on November 5 for the first time since early January 2018 and maintained critical support at $14,000.
BTC price maintains $14,000 support
Data from Cointelegraph Markets and TradingView showed that Bitcoin continued to grow on Thursday amid market tensions over the U.S. election results.
At the copy deadline on the major stock exchange Bitstamp, highs of well over $14,560 were recorded. The BTC/USD pair then settled at 14,500 US dollars.
BTC/USD 1-day chart.
Over the day the pair gained 6.5 percent. The turmoil surrounding the U.S. election has brought solid gains for Bitcoin and the traditional safe haven of gold.
Meanwhile, Cointelegraph Markets analyst Keith Wareing sees critical resistance that needs to be overcome for Bitcoin to continue to rise.
“I’m waiting for #Bitcoin to break through $14,400 or decline there. I think you have to break through this level to get a relatively clear run to $17,000,” he summarized late Wednesday.
However, the next major resistance level now appears to be $14,500, as can be seen from the order chart below.
Order card with resistance at $14,500.
“What I’m seeing here on the #Bitcoin chart in the 1-hour chart,” the popular social media trader The Moon tweeted this morning. He went on to explain:
“If we break through $14,500, we could see another giant candle to the top.”
As Cointelegraph reported, analysts are broadly agreed that Bitcoin could make significant gains if $14,000 were to be made from resistance to support.
The level had held steady since early 2018, shortly after the BTC/USD pair had risen to an all-time high of $20,000. This now became the resistance level that stopped the Bitcoin rally in 2019.