Bitcoin Is On The Cusp Of Retesting Its All-Time High Value

Bitcoin, the very well-known cryptocurrency among traders and investors, is successfully carrying out its upward bullish rally as it has come pretty close to its all-time high value. The top-ranked cryptocurrency has nearly touched its all-time high value on the 30th of November by recording an intraday high value of $19,850 on various major digital currency exchanges. But, it could not exactly achieve what it is looking for despite a potential upsurge. However, it was able to record its highest monthly close ever above $19,700 where it is currently trading. This means that the game is still on.

All Eyes are on Bitcoin (BTC) Now

The leading digital currency has broken above the key price level of $19,700 with a daily price surge of more than seven percent. With the $19,700 breakout, Bitcoin is on the verge of retesting its all-time high value. A slight push in the upward direction can send the price value of the top digital asset to its highest value ever.

All eyes are now on the dominant cryptocurrency as traders and investors are anxiously waiting for the leading digital currency to record a new high value. They expect Bitcoin to record this milestone as early as today on December 1, 2020. The reason why they are expecting this is that the major cryptocurrency is up both on a daily as well as weekly basis. At the press time, the daily as well as weekly price gains of Bitcoin are 7.45 percent and 5.53 percent respectively.

On the other hand, cryptocurrency analysts are expecting Bitcoin to reach the figure of $25,000 by the end of this year. Once the leading digital coin achieves the $20,000 breakout, it will not be difficult for Bitcoin to get over the milestone of $25,000. According to a Bloomberg analyst, the $20k figure is the primary hurdle for the major digital currency.

Bitcoin’s market cap surges above $360 billion

As the price value of Bitcoin is surging high continuously, the market capitalization of the top-ranked cryptocurrency has also been increasing over the past two days. As per the data from CoinMarketCap, the market cap of Bitcoin has surged above $360 billion a few hours ago. It is a new all-time high value in terms of market cap for the coin.

This has also helped the coin to improve its ranking in the list of the world’s top assets by market cap. Bitcoin is now holding the 12th spot and has now greater market cap than that of JP Morgan Chase.

Author: MubaShar Nawaz
MubaShar Nawaz is an experienced writer working for TheForexPro.info. Having passion for writing, he covers news articles from the finance and trading world.

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