Bitcoin jumped above $ 18,800 on Friday and is getting close to its previous record high.
Bitcoin ( BTC ) climbed to more than $ 18,750 yesterday, November 20 , keeping the uptrend in full swing.
Bitcoin is approaching a record high
As data from Cointelegraph Markets , Coin360 and TradingView show, BTC / USD continued to climb above $ 18,000, pulverizing the previous high of $ 18,420, which may have been the last major resistance.
At the interim daily high of US $ 18,817, Bitcoin was only just under US $ 1,250 away from the previous record high of December 2017.
Not only Bitcoin is currently on the rise , because many Altcoins are slowly but surely also rising to market values that were last achieved several years ago.
Analyst Tom Lee from the investment consultancy Fundstrat Global Advisors estimates the current strength of the crypto market accordingly
“The Bitcoin halving this year was what historically has always been good for the course. However, the past also teaches us that the year after a halving is even more important, ”he explains to Yahoo Finance .
“Bitcoin was the top performing financial product in 2019. This year it’s even stronger. It will also depend on all other investment products and asset classes in 2020. And yet I think 2021 will be the year she really shoots the bird. So the best is still ahead of us. ”
The data from Skew’s crypto market researchers underscores how much better Bitcoin has performed compared to other major financial products. While the cryptocurrency has achieved an annual return of 160% so far, gold has at least 22% and the important stock index S&P 500 only has 10.9%.