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The price of Bitcoin is back to $17,000
The price of Bitcoin is back to $17,000
Bitcoin

The price of Bitcoin is back to $17,000

By Marco Cavicchioli - 17 Nov 2020

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Today the price of Bitcoin is back to $17,000. This is in fact an increase of $1,000 in 24 hours, which is more than 6% in one day. 

In reality, it had already tried to approach this new threshold yesterday, reaching $16,800, but then fell back to $16,000. 

Today, on the other hand, it managed to break the resistance at $16,800, and reach up to $17,000. 

This is a new annual high, superior to any other annual maximum value in the past, except that of 2017. 

It was since January 7th, 2018 that it had not risen to this level, and in all its history it has been above $17,000 for only 12 days. 

The rise of Bitcoin to $17,000

Moreover, the longest streak of consecutive days above this level occurred between the 15th and 20th of December 2017, when it only remained there for six days, recording the highest value ever at around $20,000. 

Today it has been nine consecutive days that the average daily price remained above $15,000, not far from the historical record recorded between December 7th and 21st, 2017, when it remained there for 15 days. 

In other words, when excluding the two days on which the price remained above the $19,000 mark (December 17th and 18th, 2017), the current price levels are in line with those of the weeks on which the highest levels ever were recorded. 

It should be noted that recently, and for the first time in over three years, the price has been over $16,000 for only five days, and it has been able to rise even above $17,000. 

This means that the growth of recent times is very fast, in fact only a month ago it was at $11,000. 

In other words, in the last 30 days, the price of BTC has risen almost 55%, with a truly extraordinary performance that may be considered to be too fast-paced. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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