Daily Price Action

Bitcoin Breaches $20,000 for the First Time in History


On May 5th, I wrote about Bitcoin for the first time on this website.

BTCUSD was trading at $8,828 on that day.

Even before that, I was accumulating the cryptocurrency around the $7,000 mark, as I mentioned to Daily Price Action members on April 12th.

Today, Bitcoin broke above its (previous) $20,000 all-time high that was set on December 17, 2017, exactly three years from tomorrow.

Every new high from here on out is a new all-time high for the cryptocurrency.

But nobody should be surprised by the rise in cryptos this year, at least not if you frequent this site.

I announced the arrival of the new cryptocurrency bull market on June 22nd.

Bitcoin was trading at $9,512 on that day, and Ethereum (ETHUSD) had just broken out and was trading at $241.

Fast forward to today, and Bitcoin is above $20,000, and Ethereum is north of $600.

These figures represent massive gains for those who have been following me since May.

However, this crypto bull market is just getting started.

If you follow me on Twitter, you know the real fun begins when Bitcoin closes a month above $20,000.

And even after that, cryptocurrencies like Bitcoin, Ethereum, and VeChain still have eight to ten months of gains ahead of them.

That’s what the last two Bitcoin cycles have shown.

How high might Bitcoin go in 2021?

Estimates range from $100,000 to $300,000 or just above.

Regardless, BTCUSD is likely to be much higher than it is today by the fall of 2021.

In the near-term, if the Bitcoin price action mimics what it did the last time it broke all-time highs in 2017, we could see it reach $50,000 by February.

That wouldn’t surprise me in the least.

Disclosure: I hold investments in Bitcoin, Ethereum, and VeChain.

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Justin Bennett says

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Alex says

Hello Justin! I’d like to buy some cryptocurrency, could you advise where to open an account for it?

Ivan says

I bought some in May 2017 @18xx and mean I bought some and lost some also Bitcoins didn’t have a trading plan but well I spent a lot of money, after that, I couldn’t recover what I lost around 5 bitcoins, and then learn how to trade with forex as I do now if I have ever done a trading plan I would have now a lot of them 🙂 what a pity!

Zulfikar Ali says

Dear Justine,

I have been following your articles for last 3-4 years and I can say that you’re are a forex genius. I haven’t seen an expert like you.

Very soon , I am going to join your membership.

Thanks and regards
Zulfikar Ali

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