Monthly Bitcoin Price Candle For the First time Closed Above $13,000 Since 2017
Bitcoin has ended the month of October in a pretty good manner as the top-ranked digital currency has closed above the bullish $13,000 figure. Following the day of its whitepaper’s 12th anniversary, Bitcoin’s price value closed at $13,801 as per the data shared by CryptoCompare. This becomes the second-highest monthly price candle close for Bitcoin (BTC). Also, it is the first time since the year 2017 that Bitcoin’s monthly price candle has closed above the $13k level.
It has happened only two times in the history of Bitcoin that the largest digital currency’s monthly price candle has closed above $13,000. Last time, the monthly price candle of Bitcoin closed at $13,850 in the month of December in 2017 which was the highest-ever close for the coin. It was the same month and year in which Bitcoin recorded its all-time high value at around $20,000 on the 17th of Dec. Now, it is the second time that the top digital asset has been able to close above this figure at $13,820. The famous cryptocurrency trader and analyst, Josh Rager says that in order for Bitcoin (BTC) to hit an all-time high close, it is required to break above $13,880 over the coming months.
This bullish monthly price close has come following the daily as well as weekly price candles’ close above key levels. Moreover, another achievement for Bitcoin in October was to set its 33-month high by surpassing above $14,000 which was made on its whitepaper’s 12th Anniversary on the 31st of October.
Cryptocurrency analysts in the community are saying that the $20,000 breakout is not now far away. According to them, the $13k price level was a crucial level to break above for the leading digital currency. Now that it is broken Bitcoin is on its way to claim its all-time high value.
While talking about the significance of $13k, the Founder and Chief Executive Officer (CEO) of Ark Invest Catherine D. Wood said that now there is not enough resistance left between this level and $20k. However, she said, “we could stay in a new trading range, just at a little bit of a higher level than the recent six to 10”.
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