Bitcoin Price Prediction – BTC Spikes 4%, Is A New Bull Market Starting? On November 5, the Bitcoin price was trading sharply bullish, surging over 3% to break above a major resistance level of $21,000. Earlier in the month, the leading cryptocurrency experienced increased volatility due to news out of the United States.
At first, Bitcoin fell from $20,800 to $20,000 after the Federal Reserve raised interest rates by 75 basis points. However, buyers stood firm, and following the release of better-than-expected US employment data two days later, bitcoin began to rise in price.
Consequently, Bitcoin is trading very close to $21,000. Prior attempts to surpass that threshold had both failed, but the asset blasted right through it this time. As a result, the price of a bitcoin rose above $21,500, a high level that was not witnessed for about two months.
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