Today the market saw the latest surge in the price of Bitcoin cryptocurrency (BTC) surpass the $ 13,800 level just now recorded the highest level this year.
Some Bitcoin investors and analysts think the asset needs to pass the $ 14,000 value level before the surge continues.
The highest record of 2020 set today appears to be re-testing the highest level in 2019 around that level with the level of $ 14,000 being the main resistance. Investors will be waiting for the price reaction on the zone.
Based on the observations of macro strategist Raoul Pal, this means that there are now two major resistance levels of the BTC price of $ 14,000 and $ 20,000. His observations also led to expectations for prices to reach an all-time high by early 2021.
It is not impossible that there will be an increase in inflation which will affect the relationship between bitcoin and the equity market.
At the same time, Etoro market analyst David Derhy thinks the current bitcoin value position should be viewed more positively, hoping to reach the $ 20,000 level without looking back at the previous level, $ 12,000.
The matter can be strengthened by the situation of the United States (US) which will face the election on November 3 and it is expected that economic stimulus from the government will occur although there is still no discussion so far.
