Bitcoin (BTC) is currently experiencing its second largest trading day ever, with BTC / USD hitting a new multi-year high of $ 19,330.
Cointelegraph Markets and TradingView data give reason to celebrate November 24 after Bitcoin suddenly faced $ 19,000 resistance.
BTC price experience second best day ever
Amid rapid growth and the temptation to break all-time highs around $ 20,000, this achievement did not go unnoticed on bitcoin performance.
Ryan Silks, founder of data provider Messari, notes that bitcoin traded just over $ 19,000 in just one day of its existence.
By contrast, the largest cryptocurrency currently spends 283 days in excess of $ 10,000, including the longest in 2020.
“Will we see $ 20,000 today?” Think of Selkes.
Historical chart of BTC / USD. Source: TradingView
… and the best month ever
Meanwhile, the data show that bitcoin has risen more in US dollars than in any other month in history. In a tweet on November 24, the quantitative analyst PlanB emphasized that the last three and a half weeks have been different from any other period in Bitcoin’s life.
The largest cryptocurrency continued to rally on Tuesday after testing $ 18,000, adding over $ 1,300 to the USD price in less than 24 hours.
For PlanB, performance has shown that Bitcoin not only breaks records, but will do more in the near future. This was due to the relative strength index (RSI), which is beginning to enter the region, indicating a long-term bullish trend in the bitcoin price.
Plan B says: “Slowly but surely it is starting to look like (the beginning of) a beef market.”
“The best month in #Bitcoins history when it comes to dollars (+ $ 5400) and RSI is approaching bull market levels.”
As reported by Cointelegraph, PlanB indicated that the RSI was strong in early November and does not indicate that Bitcoin is in overbought territory despite rising prices.
Meanwhile, at the time of publication, the BTC / USD exchange rate was only 2.4% below a record high, as confirmed by data from the main exchange Bitstamp.