Bitcoin Extends the Run and Passes $20,500

BTCUSD is soaring for the second straight day. Bitcoin has increased 6.6% this week from $19,156 on October 25 to $20,690, a six-week high the next day.

Crypto exchanges have noted the most extensive series of short position liquidations in 15 months. Short bets against Bitcoin, Ether and other cryptocurrencies have blown up in the face of the bears. We are still waiting to see if the trend continues or if the interest rates push the high-risk assets back down.

Bitcoin Extends the Run and Passes $20,500 on Wednesday, October 26 (Source: SimpleFX)

Make sure you follow the trading volumes under each red and green candle to spot if the mass market has already joined the bandwagon. Is it high time to trade BTCUSD?

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