Bitcoin breaks to $20K as bulls target higher mothly close

Bitcoin’s price surged again on Friday, with increased volatility pushing BTC up by nearly $1,000 in a matter of hours to top $20,000. In fact, the BTC/USD pair has risen to $20,182 on crypto exchange Coinbase.

The price update below shows one example where the price increased by over $800 in 24 hours.

Ethereum also surged above $1,370 and Ripple’s XRP holds most of its gains after previously rising by another score, a case for the US Securities and Exchange Commission. (SEC).

Elsewhere, the US stock market also opened slightly higher, but the bearish move was not helped by general negative sentiment. The S&P 500 is trading at levels he hasn’t seen since 2020 and, as likely, could fall to end a brutal third quarter in the red.

Can Bulls See a Higher BTC Monthly Close Price?

September was a tough month across risk asset markets, with Bitcoin hovering around $20,000 and showing a painful drop towards the $18,000 support area.

Now, with a typical market session just hours away from monthly closes, we can watch whether the bulls can avoid two consecutive losing months. As you can see in the chart below, BTC is in the red at around 1.8% and August saw him lose more than 13% of the cryptocurrency.

Bitcoin has had four losing months in the last five, ending the last month with BTC/USD just above the crucial $20,000 mark.

BTCUSD monthly price chart.Source: Trading View

Closing the candles on Friday could set new bids over the weekend, pushing BTC/USD higher. If $19,600 holds and a push to $20,300 opens the $22,000 resistance line, that’s a likely prospect.

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