As of November 11, the Bitcoin (BTC) price has reached an all-time high of $85,000. This has become a significant movement for the cryptocurrency. With this movement, BTC has entered a “price discovery” phase, which is pretty uncharted in its future trajectory.
According to analysts, if Bitcoin continues to respect the demand zone and avoids a breakdown from the double-top pattern, a strong rally may be experienced.
Bitcoin Price Soars to New Highs: Bernstein Predicts $200K Target
Bitcoin is on an unprecedented tear as the digital currency has reached new all-time high of $85K. The largest crypto currency also has reached a record $1.7 trillion market cap, adding $1 trillion over the past year. This makes BTC larger than all but six public companies worldwide.
The record-reaching is happening already for a few days following the election victory of Donald Trump and the 25 basis point rate cut by the Federal Reserve.
This political and economic turn has re-awakened investor interest
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