Bitcoin price set a new higher high this weekend at over $14,000 and closed the highest monthly candle since December 2017, leaving just one higher monthly close to beat.
However, before that could happen, the leading cryptocurrency by market cap has been dragged down by pre-election uncertainty, and it could make for a rocky ride in the days ahead.
US Election Week Proves Too Uncertain For Crypto Bulls, Bitcoin Dives 6%
Bitcoin has shocked the world and more specifically, Wall Street, with its enormous year-to-date returns in the face of an economic disaster.
The leading cryptocurrency by market cap over the weekend on Halloween had a treat for investors: set a new higher high for the first time since 2017.
Parabolic curve lost, and breakdown promptly beginning | Source: BTCUSD on TradingView.com
The significance of a higher high cannot be understated following the higher low set on Black Thursday. The two notable price swings make up the definition of an uptrend, essentially confirming that the crypto asset has broken out into a new bull market.
