With Bitcoin on a raging bull mode, gaining more than 14% in the 24 hours prior to writing time, prices unseen since early January of 2018 are now within sight. Tom Lee appears to be confident on the chances of reaching for $20K in the coming dates.
The first crypto by market cap has almost broken through the $13,000 psychological resistance on Binance, in the BTC/ USDT trading pair. The same trading pair in different exchanges shows very similar numbers, as displayed in the chart below.
BTC/USDT chart provided by Tradingview.com
Bitcoin’s rally in the last dates has been just impressive, with gains of 40% in the last week, climbing all the way from $9,000 to its current position right below $13,000. The gains are as high as 60% for the last month. Similarly, Ethereum is also trying to take hold of the $350 mark, after climbing 30% in the last week, 40% for the month.
Fundstrat Global co-founder and crypto analyst Tom Lee added up with a tweet to the surging optimism with regards to Bitcoin’s price action. Under his view, it appears as if re-entering the $20K range is a target well within sight, despite the lack of contrarian opinions, which would signal for a longer and more legitimate trend.
Bitcoin surge impressive.
Prior highs of ~$20,000 just don’t seem too far away. Does it?
Rise is justified by healthier fundamentals, improved activity on blockchain, inflows from new to crypto. #BTD
2/ the only thing that is somewhat puzzling (mildly) is the ‘crypto hate’ has virtually vanished... better to see many fight a rising and trending asset.
Gives it longevity and more legitimacy #BTD
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Source Article :- https://www.chepicap.com/en/news/10790/bitcoin-breaking-13k-tom-lee-20k-just-don-t-seem-too-far-away-does-it-.html
