16 December 2020 15:56, UTC

Denis Goncharenko

The bulls are jubilant: Bitcoin has finally broken the $20,000 psychological barrier and set a new all-time high. Except for a short period in 2017 on one particular exchange, the coin has not traded above this level in its entire history.

The first cryptocurrency tried to overcome the landmark level several times, but each time it faced resistance from sellers. For several weeks, the market stagnated, and the situation caused concern — the bears were trying to reverse the trend. This has led many analysts to speculate that the last rally may have run out of fuel.

BTC eventually formed its own opinion on this matter: having overcome the much-coveted $20,000, the cryptocurrency set a new all-time high. It’s worth noting that this is considered range opening territory because Bitcoin hasn’t traded above those peaks yet. At the time of this writing, BTC is trading at $20,600 on the Binance exchange, some of the TOP-20 altcoins are following its trend.

Image: Enewsplanet

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