BTC/USD climbs to over $18,800 in Friday trading, less than $1,250 off its historic highs from 2017.
Bitcoin (BTC) hit new highs in excess of $18,750 on Nov. 20 as its latest extended bull run continued to delight investors.
BTC price inches closer to all-time highs
Data from Cointelegraph Markets, Coin360 and TradingView showed BTC/USD climb swiftly after reclaiming $18,000, taking out its previous high of $18,420 to continue rising.
At press time, local highs of $18,817 took Bitcoin to within $1,250 of its all-time highs from December 2017.
The latest gains come as altcoins also begin to hit historical levels, which have remained untested for several years.
Speaking about the market’s current strength and future prospects, Tom Lee, co-founder of Fundstrat Global Advisors, was more bullish than ever.
“The halvening happened this year, which of course historically is good for price, bit history also says that the year following the halvenings is much more important,” he told Yahoo! Finance.
“Bitcoin was the best performing asset last year, 2019. It’s killing it this year; it’s just crushing all other hedges and asset classes this year, 2020. But in 2021 I think Bitcoin could be the year of the fireworks, so if people are interested, they really should realize that the best is probably yet to come.”
Data from monitoring resource Skew underscores just how much Bitcoin has outperformed macro alternatives. Bitcoin’s year-to-date returns total 160%, while gold has managed just 22% and the S&P 500 an even less appealing 10.9%.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.