Raging Bull Run for Bitcoin with BTC on its way to reach its All Time High (ATH) price ranges

in Project HOPE3 months ago

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Image by mohamed Hassan from Pixabay

Bitcoin Price has been making four digit moves in a span of a day!!

These past few days were exciting days for Bitcoin HODLers, as the cryptocurrency made over 1000$ moves in the span of a day. Take it’s price on Nov 16th where BTC opened at about 15,900$ range, the cryptocurrency’s closing price the very next day on Nov 17th was about 17,600$, so imagine how much Bitcoin has been moving.

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Consistent yearly highs set by BTC since Oct month

These interesting uptrends where Bitcoin is now climbing up and establishing it’s yearly highs, began after Bitcoin broke its mega resistance levels of 10,400$, at the range at which BTC later found support and tried to break another BTC price resistance level at 12,177$.

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BTC's weekly Chart - Since Oct 5th BTC price is flying high in green

Eventually as one can observe on the above weekly chart, BTC from its support range at 10,400$ kept climbing up since Oct 5 and on November 16, its closing on 17,400$ range, that’s about a 70% rise in BTC’s price in about less than 2 months. BTC is just 15% from it’s ATH price range of 20,000$ , super exciting stuff.

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BTC's dialy Chart

Even on BTC’s daily chart, one can see that since Oct 7th, BTC price has been climbing up, it’s raging bull times for this king crypto.

Bitcoin Dominance has increased now to 67% as well

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Bitcoin Dominance with its price increase in the Crypto currency space is now increased to 67%. This means that most money flow is now going into Bitcoin and its dominating the crypto space comprising today of several other cryptocurrency coins or alt coins

BTC has surpassed its peak Market Capitalisation ranges of Dec 2017 when BTC price reached its ATH

Bitcoin is definitely on its way to break its ATH price ranges it reached on Dec 2017 of close to 20,000 $, but now only Bitcoin’s Market Capitalisation has crossed its ATH rangesof about $334 billion which it reached when BTC price reached its ATH back on the Dec 2017, despite the unit price of Bitcoin being lower now than that time.

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Data from Coinmarketcap
Bitcoin's Market Capitalisation is the highest ever now surpassing its previous peaks

At the earlier time period when Bitcoin’s market capitalisation reached its highest range, supply of Bitcoin was much lower, now close to 3 years since that time supply of Bitcoin has increased and so the Market Capitalisation figures spike up, with Market Capitalisation arrived at by multiplying the price of Bitcoin with its circulating supply.

Reference Article - https://cryptopotato.com/market-watch-bitcoin-records-highest-ever-market-cap-ath-price-next/

This maybe the last opportunity for non-BTC holders to get Bitcoin

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Bitcoin Price Gains data from coingecko

Now, there can be no doubt that there is going to be a parabolic run where the price of Bitcoin will witness a very significant increase. So, buying BTC now is better than not buying atall.

Don’t wait further, get Bitcoins now, before it’s price increases higher and higher to new peak levels. As for HOLDers, it’s time to enjoy these exciting price movements. YAY!!

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Bitcoin price may overcome $20K

Yay

@tipu curate 4

Upvoted 👌 (Mana: 56/112) Liquid rewards.

I'm hoping for some solid correction @mintymile

Yup correction may arise...always comes and that time in times like this, we just buy the DIP

Bitcoin will sooner or later correct, it's not yet time for a parabolic run.

Another one that is turning into a raging bull and leading the future altseason is LTC imo.

By the way, at what level do you think BTC dominance will peak and trigger a proper alt season?

Posted Using LeoFinance Beta

I don't know, looks like when BTC hit 20000$, more people would FOMO in and pour money...ALT season would come close after that maybe?

$20,000 is quite close.

Posted Using LeoFinance Beta

Hello @mintymile.
We really hope that Bitcoin can surpass its historical record and that it will also help to raise the value of all the other cryptomonies.
Thanks for sharing such a rich commentary. Success.

thanks for the compliments... yup a cryptocurrency good tide to rise for all of us, its exciting, is it not?

Hello @mintymile thanks for sharing your thoughts with us.

Bitcoin is almost near to previous all time high. And we will see the rally of altcoins if bitcoin will stable. But i think this is time for little correction first. let's see.

Absolutely, we need to keep HODLING and buying in the dips now!!

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Those who follow the world of Bitcoin closely must have a lot of patience and agility to deal with this market, haha!