Digital currency markets have seen some decent gains this week, as the overall market valuation of all 7,000+ crypto assets is hovering above the $446 billion mark. Traders also watched the price of bitcoin jump above the $16k zone on Thursday for the first time since 2018.
- Bitcoin and a number of other crypto-assets have been climbing northbound in price on Thursday, November 12, 2020. At the time of publication, the entire crypto-economy is up over 2% and valued at $446 billion today.
- During the early morning trading sessions on Thursday, bitcoin (BTC) touched a high of $16,177 on Bitstamp. The last time the price of bitcoin was in this range was on January 6, 2018. BTC’s price has retracted since it touched the 2020 price high.
- Crypto analyst Willy Woo detailed on November 11, that Bitcoin’s relative strength index (RSI) is starting to warm up. While showing a chart on Twitter, Woo tweeted: “Green circle denotes where we are in this macro-cycle. Start of the main bull run (in case it isn’t already obvious). BTC’s on-chain Relative Strength Index is just warming up. Red verticals are the halvenings, providing the bullish supply shock impulse.”
- Bitcoin (BTC) is up more than 80.98% year-to-date against the U.S. dollar and during the last 90 days, the asset is up 35% against USD. 30-day charts show BTC has gained more than 39% during the last four weeks as well.
- Some traders believe the second round of Covid-19 outbreaks may push the price toward retracement. The crypto
