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Bitcoin (BTC) hit new highs of over $ 18,750 on November 20 as its latest extended bull run continued to thrill investors.
BTC price is approaching all-time highs
Data from Cointelegraph Markets, Coin360 and TradingView showed BTC / USD was climbing quickly after recovering $ 18,000, knocking out its previous high of $ 18,420 to continue rising.
At the time of going to press, local highs of $ 18,817 have brought Bitcoin to less than $ 1,250 from its all-time highs of December 2017.
The latest gains come as altcoins are also starting to hit all-time highs, which have not been tested for several years.
Speaking about the current strength of the market and the outlook for the future, Tom Lee, co-founder of Fundstrat Global Advisors, was more optimistic than ever.
“The halving took place this year, which of course is historically good for the price, little history also says that the year after the halving is much larger,” he said. Yahoo! Finance.
“Bitcoin was the best performing asset of last year, 2019. It is killing it this year; it just crushes 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 really realize that the best is probably yet to come. “
Data from monitoring resource Skew highlights how far Bitcoin has outperformed macro alternatives. Bitcoin’s cumulative returns total 160%, while gold has only managed 22% and the even less attractive S&P 500 of 10.9%.
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