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18th Nov 2020
CryptoAltum Research Team

Bitcoin Price Powers Above $17,700, Registers a 3-Year High

At $17,750, the Bitcoin price is trading at new 2020 highs, a level last registered in early 2018. Bulls are rampant. Analysts expect inflation to rise in 2021 and as Trump holds on to office, BTC is widely treated as a store of value as Wyoming’s Senator-elect, Cynthia Lummis, observes. The politician made her first crypto purchase in 2013.


Cryptocurrencies across the board are in the green in the last week of trading. Notably, Bitcoin, a digital asset that’s being considered by leading public companies--including the latest proposal by Anthony Scaramucci--the former spokesperson for President Donald Trump, as part of their investment strategy, dominates headlines. The coin is trading at a new 2020 highs and roughly $3,000 shy of its retesting its all-time high. Bitcoin’s tailwinds stem from the realization that cryptocurrencies are here to stay and its unique properties as a censorship-resistant medium of value and a store of value controlled by no one but proven code.

Impact on the BTC Price: 

Bullish. As long as the political stalemate continues and analysts fear inflation, the coin will trend higher. The next few weeks’ developments will be instrumental for Bitcoin prices.

More market updates on our Blog 

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