Bitcoin price touches $ 17,000 for the first time in 3 years

The price of bitcoin had a new rally in this bull run, reaching $ 17,000 this Tuesday, November 17. It is the first time since the beginning of January 2018 that the main cryptocurrency on the market has reached that level.

At the time of writing this note, each bitcoin (BTC) is equivalent to 17,034 dollars, according to data from CoinMarketCap. The increase in the last 24 hours has been greater than 4%, records the same source.

With this new increase, the price of BTC takes a new step approaching its all-time high, nearly $ 20,000 dating from December 2017. Since January 6, 2018, during the dip after the peak, the price of bitcoin had never been above $ 17,000 again, the historical graph shows.

In the last 24 hours, the rest of the main cryptocurrencies in the market accompany the rise of BTC. Highlights on the list are increases of between 9% and 10% in the cases of polkadot (DOT), litecoin (LTC) and ripple (XRP).

The last time the price of bitcoin was above $ 17,000 was in early January 2018. Source: CoinMarketCap.

The momentum of the last few weeks for bitcoin is remarkable. Just a month ago, the price of the cryptocurrency was just above $ 11,300. In total, the increase is around 50% in that period and 136% for the full year 2020.

Less than a week ago, CryptoNews reported that the price of bitcoin had managed to break the barrier of $ 16,000 for the first time since January 2018. And now it reaches a new milestone, quickly.

Bitcoin bullish moment

Some attribute the bullish moment to growing institutional interest, with companies like MicroStrategy or Square investing in bitcoin and making their support for the project public.

Meanwhile, curiosity grows among the general public. Currently, the Google search interest rate for the term “bitcoin” is at its highest since August this year, according to the Google Trends tool.

The interest in bitcoin again is such that even celebrities such as actress Maisie Williams, who played Arya Stark in Game of Thrones, have joined the party. As this newspaper reported this Tuesday, Williams did a poll on his Twitter evaluating the possibility of “betting on Bitcoin”.