According to data from CryptoCompare, at 09:50 UTC on Thursday (November 12), Bitcoin finally broke through the $16,000 level before reaching $16,165 (20 minutes later):
As you can see from the three-year BTC-USD price chart shown below, this is the highest the Bitcoin price has been since 8 January 2018:
Although since then we have seen a little retracement — as of 10:30 UTC, Bitcoin is trading around $15940, up 2.23% in the past 24-hour period) — breaking through the $16K resistance level is likely to be seen as very bullish by many investors and traders who had been waiting for this move since November 6, when the Bitcoin price got as high as $15,948.
The Bitcoin price is now just 25% from its all-time high (which was $19,870, and was reached on 17 December 2017).
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.