Bitcoin’s price surge above $17,000 means the cryptoasset has only had ten days in history where it was unprofitable to buy it.
According to a report by Bitcoinist, bitcoin’s meteoric price rise of 30 percent in November has pushed the cryptocurrency into greater profitability. Since falling to below $4,000 during March’s market crash, BTC has rallied more than 350% to $18,200 as of writing.
The price is now approaching its previous all-time high at the end of 2017, when bitcoin closed near $20K. The report claims BTC’s last resistance was crossed at $17,200, paving the way for a new potential ATH.
The report also claims that only ten days remain in bitcoin’s history when the crypto-asset was unprofitable, with all of them occurring in late December 2017.
Bitcoin’s bullish rally is beginning to gain broader market traction. On the same day the price eclipsed $17,500 for the first time in nearly three years, Wyoming Senator-elect Cynthia Lummis told Fox News she intends to raise awareness for bitcoin in Washington D.C.
She said,
I want to make sure everybody understands that this is a great store of value.
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