Bitcoin’s price of $20,000 would be easily achievable after a break in the previous resistance

BTC/USD rises to over USD 18,800 during Friday’s trading.

The Bitcoin (BTC) price reached new highs of over USD 18,750 on November 20, as its latest extended upward trend continued to delight investors.

BTC price closer to historic highs

Data from Cointelegraph Markets, Coin360 and TradingView showed that the BTC/USD pair rose rapidly after reaching the USD 18,000 level, surpassing its previous peak of USD 18,420 to continue rising.

At the close of this edition, local peaks of USD 18,817 placed Bitcoin at Immediate Edge only USD 1,250 of its historical peaks since December 2017.

The latest gains come as the altcoins also begin to reach historic levels, which have been unproven for several years.

Speaking about the current market strength and future outlook, Tom Lee, co-founder of Fundstrat Global Advisors, was more optimistic than ever.

„The halving occurred this year, which of course historically is good for the price, bit’s history also says that the year after the halving is much more important,“ he told Yahoo! Finance.

„Bitcoin was the best performing asset last year, 2019. It’s breaking it down this year; it’s simply crushing all other hedges and asset classes this year, 2020. But in 2021 I think Bitcoin could be the year of the fireworks, so if people are interested, they should realize that the best is probably yet to come.

Data from the monitoring resource Skew emphasises how much Bitcoin has outperformed the macro alternatives. Bitcoin yields to date total 160%, while gold has achieved only 22% and the S&P 500 10.9% even less attractive.