Bitcoin has been performing well since October 2020. BTC has risen above levels that it has only exceeded for a few days since its creation.
Bitcoin’s good days
The platform Messari indicates that the course of Bitcoin only traded above $ 16,300 for 12 days from inception until November 13, 2020 – this represents 0.28% of the service life of Bitcoin. The 10 days were spread between December 7 to 20, 2017.
The current bullish rally of Bitcoin is accompanied by an increase in the volume of transactions. The latter reached a record of 5 billion dollars on November 5, 2020, a threshold crossed only for 9 days in the history of Bitcoin.
Among the top 10 cryptocurrencies on the market, only Chainlink (LINK) comes closest to Bitcoin on this point.
The value of LINK has exceeded its current price of $ 12.70 for 2.7% of its lifetime. TheEther (ETH) exceeded $ 464 for 201 days, which is about 10% of the period since launchingEthereum.
From $ 1 in BTC to $ 58,000 in 10 years
Bitcoin is currently struggling to break through the resistance zone of $ 16,400 – $ 16,500. He goes back and forth on either side of the $ 16,000.
Bulls need to defend $ 15,500 to avoid breaking parabolic ascent of Bitcoin. This break would lead to a major correction in the price of BTC.
Will the current bullish rally take Bitcoin towards a new ATH? Even though the BTC fails to reach $ 20,000, a $ 1 investment of Bitcoin November 13, 2010 would be worth over $ 58,000 today.
At the same time, BTC is near and far to USD 20,000. He can just as easily do the last few kilometers in a few days, as he can turn back and have to start all over again. Bitcoin’s strong performance since October 2020 is driving some to HODler with a view to a new ATH and others to sell to immediately profit from this rise. The current battle aims to defend the 16,000 USD and to weaken by successive attacks the 16,400 USD – 16,500 USD.