Bitcoin's price is currently trading at $ 20,700 after a massive break above $ 20,000 for the first time in its history. The digital asset has peaked at $ 20,800 on Binance, which suffered significant outages, primarily on its mobile app.
The flagship cryptocurrency is trading at $ 20,700 at time of writing in what appears to be a healthy breakout over the past two hours. Bitcoin is now in the 'price discovery' zone with no resistance above.
Most analysts remain bullish on the digital asset, which has reached a market capitalization of $ 383 billion for the first time and increased its dominance to 64.2% again. Several major cryptocurrencies have followed suit with XRP jumping above $ 0.50 again and Ethereum touching $ 620.
The total market capitalization of the cryptocurrency industry increased by $ 20 billion in 1 hour reaching a two-year high at $ 598 billion.
Bitcoin technical indicators remain very bullish
When it comes to most technical indicators, it seems that they still show that investors should buy the digital asset. On the daily time frame, the consensus is a "strong buy" that can be seen in virtually all time frames.
The trading volume of Bitcoin and the entire market has skyrocketed significantly in the last two hours, indicating that the breakout is very strong. The next potential price targets for Bitcoin would be the psychological levels located at $ 21,000, $ 22,000, etc.