November 24 generates the second highest daily price for Bitcoin, and November is already its best month in terms of dollar earnings.
The Bitcoin (BTC) price is currently having its second highest trading day in history, as the BTC/USD pair reached a new multi-year high of USD 19,330.
Cointelegraph Markets and TradingView data provided cause for celebration on November 24 after Bitcoin suddenly broke through the USD 19,000 resistance.
BTC price experiences second best day ever
In a context of rapid gains and the temptation to break historic peaks of around USD 20,000, the achievement has not gone unnoticed in Bitcoin’s figures.
Ryan Selkis, founder of the Messari data resource, noted that in just one day of its existence Bitcoin has traded above USD 19,000.
In contrast, the largest crypto profit currency has now spent 283 days above USD 10,000, including its longest season in 2020.
„Will we reach USD 20,000 today?“ Selkis wondered.
…And his best month
Meanwhile, Bitcoin has earned more in terms of US dollars than any month in its history, the data shows. In a tweet on November 24, quantitative analyst PlanB noted that the last three and a half weeks have been unlike any other period in Bitcoin’s life.
The largest crypt currency continued to rise on Tuesday after retesting USD 18,000, adding more than USD 1,300 to its price in USD in less than 24 hours.
For PlanB, the performance indicated that Bitcoin was not only breaking records, but would offer even greater returns in the near future. This was due to its Relative Strength Index (RSI), which had begun to enter the zone indicating a prolonged upward trend in Bitcoin’s price.
„Slowly but surely, this is beginning to look like (the beginning of) a bullish market,“ said PlanB.
„The best month of #bitcoin in $ terms (+$5400) and RSI is dragging towards bullish market levels.
As reported by Cointelegraph, PlanB noted that the RSI was strong in early November, without indicating that Bitcoin was overbought despite its price growth.
At the close of this edition, meanwhile, the BTC/USD pair was only 2.4% behind its historical peaks, confirmed data from the major Bitstamp exchange.