Since gold is centralised as it is owned by Central Banks and Bitcoin is not, Bitcoin attracts more and more investors, evading the volatility that government organizations may incur.
Many analysts are bullish on BTC/USD and many predicted that the price will hit $20,000 by the end of the year, which still looks achievable.
On Nov 21, Bitcoin established a new high at $18,974, almost reaching the $19,000 barrier and found a strong support at $17,626.21 where the pair continued the bull run.
As seen on the chart above the uptrend of Bitcoin yesterday was backed by the Exponential Moving Average (EMA) 50 and the dynamic support of Nov 18.
By the time of writing this article Bitcoin on Overbit is traded at $18,711 and is above an important resistance at $18,672.
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