$14.1K: Bitcoin Breaks New 2020 High With US Election Still Undecided

Bitcoin has broken fresh 2020 highs as uncertainty remains in the U.S. presidential election.

Nov 4, 2020 at 5:31 p.m. UTC
Updated Sep 14, 2021 at 10:27 a.m. UTC

Bitcoin has broken fresh 2020 highs as uncertainty remains in the U.S. presidential election.

One-hour chart of bitcoin at around 17:00 UTC on Nov. 4, 2020.

  • At around noon ET (17:00 UTC), the world's oldest and most valuable cryptocurrency broke the $14,100 resistance level that had proved difficult to scale for the bulls four days prior on Oct. 31.
  • As of this writing, bitcoin (BTC) was changing hands at around $14,166.25 after rebounding from Nov. 2 lows, near former resistance now confirmed as support at around $13,250.
  • Over the past 24 hours, bitcoin has ranged between $13,545 and $14,223, according to CoinDesk 20 data.
  • The difference in bitcoin's price action compared to four years ago has been relatively small. Bitcoin’s price failed to react immediately after the 2016 election, rising a scant 1.8% in the 24-hour trading period. However, it is worth noting that roughly a year later, bitcoin climbed to its all-time highs above $19,660.

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