While a new all-time high is an encouraging sign to be sure, Bitcoin also possesses nearby support in the event of another abrupt pullback. Bitcoin (BTC/USD) Price Chart: 1 - Hour Time Frame (October 2020 - December 2020) Furthermore, the technical landscape might also offer signs of encouragement beyond the recent high. With believers abound and yield-hungry traders searching for gains in a low interest rate world, the case can be made for a continuation of the Bitcoin rally. Bitcoin (BTC/USD) Price Chart: Daily Time Frame (November 2017 - December 2020)

Bolstered by investors who believe cryptocurrency is the eventual replacement to the current fiat system, BTC/USD has climbed more than 160% in the year-to-date. Buoyed by a weakening US Dollar, talks of further stimulus and loose monetary policy, the largest cryptocurrency by market cap has thrived in the 2020 market environment. Bitcoin Price Forecast: BTC/USD Tops 2017 Peak, Sets Sights Higherīitcoin touched a new all-time high on Monday, briefly surpassing the prior peak of $19,783.

Bitcoin 2017 price chart