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Bitcoin Breaks Above $14,500 First Time Since January 2018

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Thu, 11/05/2020 - 08:05
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Yuri Molchan
The world's most popular cryptocurrency has broken through the $14,500 level and has not been so high since early 2018 before the "crypto winter"
Bitcoin Breaks Above $14,500 First Time Since January 2018
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According to data from a TradingView chart, the exchange rate of the flagship cryptocurrency, Bitcoin, has exceeded the $14,500 resistance for the first time since January 2018, before it began sliding down into the so-called "crypto winter."

BTC
Image via TradingView

This growth has been prompted by a recent rise in open interest on Bitcoin futures from institutional market participants reported by Skew, and leverage-based BTC trading on Binance as was recently reported by CryptoQuant.

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Overall, an inflow of funds from financial institutions, new pandemic lockdowns implemented gradually and new quantitative easing measures are being discussed by the world's central banks.

As a reminder, on Oct. 31Halloweenand on the 12th anniversary of the Bitcoin whitepaper, the BTC rate broke above the $14,000 level for the first time in two years.

Bitcoin has been moving towards the $14,000 mark in a determined manner with no major retracements – on November 4, it was 100 days of BTC holding above the $10,000 level.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.