Bitcoin Price Soared, Retests All-Time High
The Bitcoin price on Nov 30 rallied, nearly retesting 2017 highs of $19,891, reaching a new 2020 high of $19,873 (data from Coinbase). An additional screenshot by Tyler Winkelvoss, one of the owners of Gemini, confirmed the uptrend. Preceding the rally was an influx of new investors according to GlassNode statistics.
The Bitcoin price is literally on a tear. At the back of solid fundamentals and bullish forecasts from investors, the coin soared and printed a new high in some cryptocurrency exchanges. At $19,873, the Bitcoin price outperformed most altcoins. Its dominance also increased to 61.2 percent at the time of writing. With institutions pouring in on Bitcoin, preferring to HODL the digital asset strategically because of its inherent properties and digital existence, giving it an edge over gold, its prices continue to pump. Odds of further gains above $21k are not off the table.
Impact on the BTC Price:
Bullish. Curiously, the Bitcoin price is pumping without an uptick in Google searches. It hints that retail investors are yet to FOMO on BTC, buying, and further increasing demand which could stretch the digital asset price above $20k to $21k and beyond.
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