Not only did Bitcoin beat $ 16K, but with its market cap, after a long time, it got into the TOP20 assets and it was helped by nobody else than PayPal.
It is more than certain that Bitcoin can thank PayPal for this increase in price and market cap. On the same day it published a report on November 12 that it was launching crypto services for accountholders in the U.S..
Even in this example, it is beautiful to see what actually affects the price increase the most and these are and have always been external factors and big significant announcements.
But remember one thing if Bitcoin is already trading now at $ 16K, what will happen with the price when PayPal launches the crypto service worldwide next year and it will be possible to pay to more than 28 million merchants with cryptocurrencies? I think the only answer to this is that the new ATH is coming.
However, let's also look at the technical analysis:
Bitcoin created new at $15.7K – $16K
Resistance at $16.8K
Global and Local trends are / UP
1D/1W still overbought /
Fear & Greed Index / Extreme Greed
Full analysis: https://ccnews24.net/bitcoin-has-built-a...