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However, even if that isn’t the case, this prevailing bull rally has brought the benchmark cryptocurrency in contact with its final resistance before we see a new record high. That said, when the all-time high at $20,000 gets cleared, the amount of FOMO-induced purchases will be astronomical, which will invariably send BTC to extraordinary heights.
Are we going to see a new all-time high this month or week? Or will this final resistance be powerful enough to quell an all-out FOMO boom? Either of these scenarios is possible. However, we are more likely to see the former play out.
In other news, a Chief Investment Officer at Blackrock, one of Wall Street’s largest and most prominent investment firms, has asserted that he believes “cryptocurrencies are here to stay” in a recent interview today. The CIO also stated that he believes Bitcoin could replace gold as the recognized and preferred store of value.
Key BTC Levels to Monitor — November 20
Bitcoin continues to trade upwards without taking modest dips, as normally expected. The primary cryptocurrency is now on the cusp of breaking its all-time high at $20,000. That said, any decline from this level will get supported by the $18,300 support.
Meanwhile, our key resistance levels are at $18,829, $19,000, and $20,000. While our key support levels are at $18,000, $17,500, and $17,000.
Total market capital: $522 billion
Bitcoin market capital: $344 billion
Bitcoin dominance: 65.9%
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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