Bitcoin (BTC) hit $15,000 on Nov. 5 as excitement over the U.S. election spilled over from macro markets.

Data from Cointelegraph Markets and TradingView showed BTC/USD tackle the $15,000 barrier repeatedly throughout the day, finally breaking it to post press-time highs of $15,200.

The move seals a hectic day for Bitcoin, which just 24 hours ago traded below $14,000. The last time that BTC/USD saw $15,000 was in early January 2018.

Reacting, many well-known Bitcoin figures noted that it was high time for the largest cryptocurrency to make a decisive move. Macro investor Dan Tapeiro in particular praised the price models of quant analyst PlanB.

Now enterring what is called the moment of realization for #Bitcoin, he tweeted.

As Cointelegraph reported, some expected $15,000 to pose major resistance that would temporarily quash Bitcoins $1,000-plus daily gains.

Others argued that technically, there was very little standing in the way of new all-time highs once Bitcoin overturned resistance at $14,000 and then $14,500.

I have seen this show before, PlanB added, referencing the bull runs of 2013 and 2017.

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Bitcoin price hits $15K as daily gains top 9% and Trump Vs. Biden goes on - Cointelegraph

Bitcoin has resumed its march higher after seeing some wild swings over the course of the U.S. election, hitting fresh near-three year highs.

[Update: 11:20am EST 11/05/2020] The bitcoin price has smashed through $15,000, up almost 10% in the last 24 hours, climbing to $15,310 per bitcoin on the Luxembourg-based Bitstamp exchange and renewing investor hopes bitcoin could return to its all-time highs of around $20,000, set at the peak of bitcoin-mania in late 2017.

Other top ten cryptocurrencies, including ethereum, Ripple's XRP, chainlink, and litecoin, have also made gains of between 5% and 14%, boosted by bitcoin's strong performance, and adding $125 billion the combined bitcoin and cryptocurrency market capitalization, taking it to over $430 billion.

The bitcoin price has climbed this week, reaching highs not seen since the late 2017 bitcoin bubble ... [+] burst.

"It was important for bitcoin to overcome the resistance area near $12,000," Alex Kuptsikevich, FxPro senior financial analyst, said via email, adding the bitcoin market is now "aiming for $20,000."

"Once it was passed, the coin did not have any significant hurdles to jump to repeat the rally towards $20,000. All obstacles were crushed, and now any news background is perceived as positive for the leading cryptocurrency."

The bitcoin price had fallen sharply as polls closed on Tuesday evening, with early signs showing U.S. president Donald Trump could pull off a polling upset and win the election. Trump is projected to win 23 states, including Texas, Ohio and Florida, outperforming pollsters' predictions.

"Bitcoin has recovered from its post-election drop, crossing the $14,000 level once more," John Kramer, trader at market-maker GSR, said via email, adding that "the U.S. dollar was initially stronger as a Trump victory became a possibility, but has tailed off since then as Bidens numbers improve."

Vote counting is still underway in a handful of key battleground states across the U.S. which will determine the outcome of the electionand the extent of any future stimulus deal.

"We may not know what a post-election stimulus may look like, but investors continue to believe that the U.S. Federal Reserve will keep printing money at a pace that favors bitcoins finite supply," Kramer added.

Bitcoin has a fixed supply of just 21 million bitcoin tokens, something that has put it into sharp contrast with unprecedented government money printing, quantitative easing and stimulus measures launched this year, all designed to offset the economic damage wrought by the coronavirus pandemic.

The bitcoin price has soared toward $15,000, a level not seen since early 2018.

Bitcoin has doubled in price so far this year, finding support from a number of high-profile traditional investors looking to hedge against the inflation they see coming as a result of central bank money printing.

"Bitcoin has proven its extreme resilience during complex geopolitical events and this has come to the fore during the tumultuous U.S. election," Paolo Ardoino, chief technology officer at bitcoin and cryptocurrency exchange Bitfinex, said via email.

"Regardless of the result of the election, it could be said that we are witnessing a growing recognition of bitcoins unique qualities as we adjust to just the sort of challenging times that the worlds biggest cryptocurrency was invented for."

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Update: Bitcoin Aims For $20,000 As Ethereum, Ripples XRP, Chainlink And Litecoin Suddenly Soar - Forbes

The price of Bitcoin (BTC) has pulled back substantially since its yearly high at $14,149 a few days ago. Yet, there are five signs that the real rally is only just starting.

Rising HODLing activity, record-high fundamentals, low retail interest, higher time frame breakout and technical indicators suggest that a bigger bull run may be brewing.

Bitcoin has dropped over 6% from its local peak at over $14,000, a level it hasnt tested since 2017.

But on the weekly and monthly time frames, it recorded a clear breakout. It saw its weekly and monthly candles close above $13,000 for the first time in nearly three years.

As Cointelegraph previously reported, the monthly chart shows Bitcoin is far above key moving averages. Technically, that means the momentum is still intact, but a healthy pullback could be beneficial.

During the peak of a bull run, Google Trends activity for the keyword Bitcoin skyrockets as retail demand floods in. When market sentiment becomes euphoric, whales tend to take profit, causing the market to decline.

In the past several months, despite the strong rally of Bitcoin, Google Trends activity has been low. This indicates that not a lot of retail investors are searching about the dominant cryptocurrency on Google.

Additionally, according to data from The Tie, the monthly tweet volume of Bitcoin in October only rose 7.8%. The lack of retail interest despite the price being at multiyear highs indicates BTC might be in an early bull market phase.

According to the Mayer Multiple, historical Bitcoin price cycles show the current BTC rally is not overheated.

The Mayer Multiple analyzes the price of Bitcoin based on its 200-day moving average, which evaluates its long-term price trend. If the multiple is above 2.4, it indicates that the rally is likely overheated. In 2017, when BTC hit $20,000, as an example, the multiple rose to around 3.8.

Currently, as of Nov. 2, the Mayer Multiple is hovering at around 1.27. This shows the rally is not overheated or overcrowded, despite BTCs uptrend from $3,600 to $13,350 since March.

During autumn, the northern areas of China undergo the rainy season. Major mining hubs that rely on hydropower can gain access to cheaper electricity, which allows them to mine Bitcoin more efficiently.

When the rainy season came to an end, there was a mass exodus of miners in the Northern area of China. Consequently, the hash rate of Bitcoin fell steeply in a short period.

Yet the 30-day average hash rate over the past year shows that the Bitcoin hash rate is still near its record high. Currently, it is hovering at roughly 132 million terahashes per second. In January, the hash rate was well below 100 million TH/s, by comparison.

Based on HODL waves, which evaluate the trend of long-time Bitcoin holders, more investors are increasingly holding BTC for longer periods.

HODLing activity has increased since March when the price of BTC briefly dropped below $3,600. Since then, investors have been steadily accumulating BTC.

The increasing holding of BTC put together with strong fundamentals, a favorable high time frame technical structure and positive technical indicators have strengthened the overall market sentiment that may eventually trigger an even bigger rally for Bitcoin.

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5 signs that the real Bitcoin rally may only be just beginning - Cointelegraph

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Ive been talking about bitcoin on its way to $14,000 for some time and now that day has come. To me it is a haven play and gold would be rising a lot if it wasnt for the fact that demand for jewellery has collapsed because of the moribund state of the global economy. Gold will follow in time because folks are buying gold in coin and bar form like crazy but that demand has to rise a lot to suck up the demand losses of the trinket industry.

There are enough problems in the world to stoke bitcoin because as I consistently maintain, if you want to stash cash away from difficultiesinflation, to governmental, to social unrest, to local difficulties the list is a long onethen bitcoin is the easiest and best way to do it if you are techno savvy.

Yet it doesnt take all these emerging problems that plague the world. The trail of history ended by Fukuyama has been kickstarted back into life but this chaos is not necessary for Bitcoin to rise and rise, it is only the catalyst.

Traders see the world through an acute model of they did that, so this follows whereas investors see the world through a chronic vision of tectonic forces grinding away to produce an inevitable outcome. It is tectonic forces driving bitcoin with the acute news driving the volatility that market players love, but ultimately the randomness of noise is washed out by the moving average of the passage of time.

Here is the chart. Its a classic breakout and a classic parabolic move:

The Bitcoin chart - a classic breakout

Now bear in mind I havent been a strong bear on bitcoin all these years without acquiring a decent amount so please feel free to moderate my opinion on the basis I am talking my book.

The following chart is what grabs my attention:

The Bitcoin chart is similar now to the last rise

Self similarity, self affinity is an interesting area of study and Ive written on it for 20 years and its made me money, so I look at this chart and drool. There are many mathematical reasons why patterns repeat at different scales, and work by my old friend the late great Benoit Mandelbrot is worth a deep dive for anyone who takes their technical analysis seriously. In a nutshell you can say that long-term processes, even ones driven by large amounts of randomness from moment to moment, create fractals that repeat their forms due to the configurations of the forces at work. Put simply, if you bash a sheet of iron with a hammer over and over at random you will get a fascinating pattern which looks similar all over its surface. Clouds, coastlines, plants, rocks, stock markets all demonstrate this effect and right now if bitcoin is under the same influence then we are in great shape.

To me $17,000 is close and the top of this move could be very high. You can scale the move yourself if this pattern was to play out to the full. The thing to remember is 2017s $20,000 went back to $3,000, so $40,000 could just as easily go back to $5,000.

In any event we are in for a wild ride and we can be assured of that for years to come.

Clem Chambers is the CEO of private investors websiteADVFN.comand author of 101 Ways to Pick Stock Market Winners andTrading Cryptocurrencies: A Beginners Guide.

Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards in 2018.

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Is Bitcoin On A Moonshot To Its All Time High? - Forbes

Bloomberg

(Bloomberg) -- Facebook said it has taken down a group that has surged in popularity since Election Day called Stop the Steal.The group, which had attracted more than 360,000 followers in recent days, was attempting to sow doubt about the legitimacy of the U.S. presidential election. The StopTheSteal hashtag has also become popular on Twitter.Facebook Inc. said it removed the group because some members were calling for violence.In line with the exceptional measures that we are taking during this period of heightened tension, we have removed the Group Stop the Steal, which was creating real-world events, a Facebook spokesperson said. The group was organized around the delegitimization of the election process, and we saw worrying calls for violence from some members of the group.A spokesperson for the group lashed out at Facebook for shutting them down. It is absolutely beyond the pale that Facebook would selectively choose to shut down our group. Is this the same standard they are applying to left wing groups?The answer is obvious -- they are selectively enforcing their new rules to silence conservatives, the spokesperson said. The group was formed to give a voice to the millions of Americans who are concerned about the vote counting process.The group was created on Nov. 4 with an announcement from the conservative organization Women for America First, which is run by activist Kylie Kremer, daughter of Tea Party activist Amy Kremer, who is co-founder of Women Vote Trump. MOBILIZING NOW- INVITE EVERYONE YOU CAN! the announcement said. Details forthcoming...Turn on notifications! Women for America First was opposed the impeachment of President Donald Trump and advocated for Supreme Court Justice Amy Coney Barrett.Women for America First didnt immediately respond to a request for comment.Were going to be holding everybody accountable and making sure the Secretary of State and everybody follows election law and that this election is not stolen from President Donald Trump, Kylie Kremer said on Nov. 4 in a live stream outside of State Farm Arena in Atlanta, where ballots are being counted.On Kremers Twitter account, she indicated the money raised will be used to fly in supporters to swing states. ALL HANDS ON DECK, Kremer tweeted. Need immediate support to fly in people to GA, PA, NV, AZ, WI, MI & NC to Stop The Steal NOW.Posts in the discussion section of Stop The Steal promoted a number of debunked claims about the vote, with several of the posts receiving several thousand interactions.Among the people promoting the StopTheSteal on Twitter was the presidents son, Eric Trump. The amount of FRAUD being reported in Pennsylvania, Michigan, Nevada, Georgia and Wisconsin is unreal. Please report personal experiences. Please have all facts and evidence. StopTheSteal, he tweeted on Thursday.Twitter began monitoring the hashtag StopTheSteal and related Tweets early on Tuesday and have continued to do so. Theyve taken action in instances were users have violated Twitter rules, said a company spokesperson. Our teams will remain vigilant, specifically on this hashtag and on protecting the integrity of the election conversation across Twitter broadly, the spokesperson said.(Updates with additional details about group beginning in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P.

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Forget buy-to-let and Bitcoin. Id buy these 2 UK shares in an ISA today to retire rich - Yahoo Finance UK

Bitcoin traders and investors have been nervously eyeing markets over recent days, with uncertainty on the rise after bitcoin decoupled from the stock market last week.

The bitcoin price, up a staggering 50% on the last six months, looks set to close out 2020 as one of the year's best performing assets. Bitcoin spiked to just over $14,000 per bitcoin late last month for the first time since the great 2017 bitcoin bubble popped in January 2018.

Now, the bitcoin price has added 4% over the last 24 hours, rocketing back over $14,000 and again following traditional markets that jumped earlier today, with bulls firmly in control ahead of the U.S. election polls closing.

The bitcoin price has climbed ahead of the U.S. election result, with bitcoin traders and investor ... [+] closely watching the polls.

"We seem to be well in the green across the board right now both in terms of markets and crypto and it's hard to tell where this [rally over $14,000 per bitcoin] is coming from exactly, but it seems logical that the election must be playing a part," Jason Deane, an analyst at market advisory firm Quantum Economics, said via Telegram.

"Early sentiment is of a Biden victory which could point to expectation of getting a significant coronavirus stimulus passed quickly. In that scenario, bitcoin is little more than a passenger on a wave of positivity driving price discovery, rather than the fundamentals which, although strong, become a secondary consideration in that context."

Others in the bitcoin and cryptocurrency community are confident that the bitcoin price will climb whoever takes the White House in coming days.

"Regardless of who wins, the forecast is for more quantitative easing and stimulus, continuing the favorable conditions for hard assets like bitcoin," Cory Klippsten, the chief executive of bitcoin-buying app Swan Bitcoin, said via Telegram, adding that "everything in the macro environment points to great opportunity for a major bitcoin bull market."

Bitcoin, with a fixed supply of just 21 million bitcoin tokens, has found fresh support this year as a hedge against the inflation some investors see on the horizon due to unprecedented government spending and stimulus measures designed to offset the economic damage wrought by the coronavirus pandemic.

The recent bitcoin price rally has reinvigorated the bitcoin and cryptocurrency community, with many celebrating a raft of major developments.

"There just aren't many sellers left. It feels like every time there's the slightest dip lately, it just gets bought up," Klippsten said, pointing to MicroStrategy MSTR kicking off a wave of publicly-listed companies adding bitcoin to their books, payments giant PayPal PYPL rolling out bitcoin-buying and spending services, and recent upgrades to the bitcoin network as fostering a "bullish" bitcoin ecosystem.

The bitcoin price has added over 3% today, pushing bitcoin over the psychological $14,000 per ... [+] bitcoin level for the second time this year.

Bitcoin prices are highly volatile, however, and some have been quick to point out sharp corrections often follow jumps higher.

Bitcoin "loves nothing more than to surprise everyone," George McDonaugh, managing director of digital asset investment company KR1, said via email.

"Were now clearly in a bull market and next year has huge potential, but watch out for those 30% declines that come seemingly out of nowhere. There were five such declines on the way up to $20,000 in 2016/17, so expect similar this time around."

Some think bitcoin will find support not far from its highs.

"What should be noted is the strong support seen at $13,000, which is allowing the bulls to reattempt breaching $14,000 with increased confidence," Joe DiPasquale, the chief executive of hedge fund BitBull Capital, said via email.

"In the short-term, the price is expected to remain volatile due to the U.S. elections, but long-term prospects remain increasingly bullish."

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Bitcoin Just Rocketed Over $14,000Heres Why - Forbes

A visual representation of the digital cryptocurrency bitcoin.

Yu Chun Christopher Wong| S3studio | Getty Images

Nearly $1 billion worth of bitcoin with potential ties to the Silk Road online black market is on the move, according to London-based blockchain analysis firm Elliptic.

Silk Road was closed down by U.S. federal authorities in 2013, while its creator, Ross Ulbricht, was sentenced to life in prison two years later. The site, hidden away as part of the dark web, allowed people to sell drugs and other illegal goods.

Elliptic, a firm that tracks the movement of dirty money in the cryptocurrency sphere, said Wednesday that it picked up on a transaction of funds believed to have originated from the site.

The company said that 69,369 bitcoins worth about $950 million today, according to CoinDesk had been moved out of a wallet that had the fourth-highest balance of any globally.

It added that an encrypted file circulating among hackers allegedly contained the passcode required to withdraw bitcoins from that wallet.

"The movement of these bitcoins today may represent Ulbricht or a Silk Road vendor moving their funds," Tom Robinson, co-founder and chief scientist of Elliptic, said in a blog post. "However it seems unlikely that Ulbricht would be able to conduct a bitcoin transaction from prison."

"Alternatively, the encrypted wallet file may have been real, and the password has now been cracked allowing the bitcoins to be moved."

Though the Federal Bureau of Investigation seized 174,000 bitcoins from Ulbricht, Robinson said a further 440,000 bitcoins were earned from Silk Road commissions. "There has always been the suspicion that proceeds of the Silk Road may remain in circulation," he said.

The FBI was not immediately available for comment when contacted by CNBC.

Bitcoin has been on a tear in 2020, climbing 91% year-to-date as major companies like PayPal and Facebook have shown an increased interest in cryptocurrencies. But it's also been the target of scrutiny from regulators and bankers due to its use in criminal activities like money laundering.

Elliptic and a competitor called Chainalysis have tried to bring some legitimacy to the cryptocurrency industry by selling analytics tools that allow virtual currency exchanges and banks to block potentially dubious transactions.

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Nearly $1 billion worth of bitcoin linked to Silk Road black market is on the move, analysis shows - CNBC