3 years ago

Bitcoin Spikes $1K In Hours To New 2020 High: Only 5% From 2017 All-Time High

George Georgiev Nov 24, 2020 09:46

Bitcoin made yet another parabolic move, tapping $19K after gaining around $1,000 in hours. With this, the cryptocurrency trades around 5% below its current all-time high reached in December 2017.

Bitcoin reminded everyone of itself, following a few days of relative stability where altcoins had the chance to catch up, which they did splendidly.
Today, however, the cryptocurrency saw massive volatility.
Within the same daily candle, BTC reached an intraday low of around $18,000 only to surge hours later and break $19,000.
Seconds ago, the primary cryptocurrency tapped $19K, reaching as high as $19,028 on Binance, before retracing to where it currently trades at around $18,900.

BTC/USD. Source: TradingView

This happens as altcoins were absolutely booming, causing bitcoin to lose a total of around 6% of its market dominance in the past few days alone.
As CryptoPotato reported earlier today, the most powerful performer of the past 24 hours remains Ripple’s XRP that managed to surge over 50% in less than 24 hours.
In any case, with Bitcoin closing in on $19,000, the all-time high value that the cryptocurrency reached in December 2017 is around 5% away.
With this new yearly high for 2020, it remains interesting to see when BTC will be able to beat its previous record.

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George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

Tags: BitcoinBitcoin (BTC) Price

Bitcoin Spikes $1K In Hours To New 2020 High: Only 5% From 2017 All-Time High

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