Share this article

$14.1K: Bitcoin Breaks New 2020 High With US Election Still Undecided

Bitcoin has broken fresh 2020 highs as uncertainty remains in the U.S. presidential election.

Updated Sep 14, 2021, 10:27 a.m. Published Nov 4, 2020, 5:31 p.m.
Mountain_Climber_In_Mountains_(Unsplash)

Bitcoin has broken fresh 2020 highs as uncertainty remains in the U.S. presidential election.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters

One-hour chart of bitcoin at around 17:00 UTC on Nov. 4, 2020.
One-hour chart of bitcoin at around 17:00 UTC on Nov. 4, 2020.
  • At around noon ET (17:00 UTC), the world's oldest and most valuable cryptocurrency broke the $14,100 resistance level that had proved difficult to scale for the bulls four days prior on Oct. 31.
  • As of this writing, bitcoin (BTC) was changing hands at around $14,166.25 after rebounding from Nov. 2 lows, near former resistance now confirmed as support at around $13,250.
  • Over the past 24 hours, bitcoin has ranged between $13,545 and $14,223, according to CoinDesk 20 data.
  • The difference in bitcoin's price action compared to four years ago has been relatively small. Bitcoin’s price failed to react immediately after the 2016 election, rising a scant 1.8% in the 24-hour trading period. However, it is worth noting that roughly a year later, bitcoin climbed to its all-time highs above $19,660.
Advertisement

COMMENTARY: CoinDesk Covers the 2020 US Election and Crypto Impact

More For You

This article is created to test tags being added to image overlays

Consensus 2025: Zak Folkman, Eric Trump

Dek: This article is created to test tags being added to image overlays

What to know:

  • Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.