Path to Bitcoin at $20K is open after resistances are broken

The BTC/USD is trading above $18,800 this Friday, less than $1,250 from historical highs in 2017.

The Bitcoin (BTC) reached new highs, surpassing $18,750 on Friday, November 20, the latter prolonged high continues to delight investors.

BTC’s price is closer to historic highs

Data from Cointelegraph Markets, Coin360 and TradingView showed that the BTC/USD rose quickly after recovering $18,000, surpassing the previous high of $18,420 to continue rising.

So far, highs of $18,817 have caused Bitcoin to stay $1,250 off record highs of December 2017.

The most recent gains also occur in the altcoins, which begin to reach historic levels that have remained untested for several years.

Speaking about current market strength and future prospects, Tom Lee, co-founder of Fundstrat Global Advisors, is more optimistic than ever.

„Halving happened this year, which of course is historically good for the price, the history of bitcoin profit revolution also says that the year after halving is much more important,“ he told Yahoo! Finance

„Bitcoin was the best performing asset last year, 2019. And it is killing this year; destroying all other asset classes this year, 2020. But in 2021, I think Bitcoin will have the year of fireworks, so if people are interested, they should really realize that the best is probably still to come. „

The data from the analysis provider Skew emphasizes how much Bitcoin has outperformed the macro alternatives. The cumulative Bitcoin returns for the year total 160%, while gold achieved only 22% and S&P 500, an even less attractive 10.9%.