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BTC surpasses $15,700, is it eyeing up $16,000?

BTC surpasses $15,700, is it eyeing up $16,000?

Quick take

1 minute read

  • Exciting news today in the crypto space as a leading cryptocurrency has spiked above the $15,000 key resistance level.
  • This makes it to the highest price point since early 2018 as the buying frenzy seemingly goes on.

Exciting news today in the crypto space as a leading cryptocurrency has spiked above the $15,000 key resistance level.

This makes it the highest price point since early 2018 as the buying frenzy seemingly goes on.

FOMO seems to be taking a grip on the market now though as the King coin gets seemingly ready to test $16,000.

Currently, bitcoin is priced at $15,701 following a 9.07% increase over the past 24 hours.

Analysts on Twitter have highlighted the price of bitcoin is now priced at 80% of its all-time high meaning that it is the closest it has ever been to a full recovery. Yesterday, Michael Novogratz, The former hedge fund manager and advocate for the world of crypto showed his thoughts on the bull market that bitcoin currently finds itself in.

As all of this takes place, many believe that the United States presidential election results could have been the reason for the spike in price for bitcoin. Joe Biden currently leads the polls over Donald Trump and the counting is nearly over, despite trying to stop it numerous times on the president's half.

Whether the election had an impact on bitcoin is difficult to say but the timing is all too convenient to say the least.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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