$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.

By Sebastian Sinclair

Nov 4, 2020 at 5:31 p.m. UTC

Updated Sep 14, 2021 at 10:27 a.m. UTC

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Sebastian Sinclair

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

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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