Surging bitcoin nears its highest level in almost 3 years, and is set to test a key technical level that could spur a move toward $20,000

  • Bitcoin surged more than 3% on Tuesday as it approached a key resistance level at $14,000.
  • Recent positive developments for the digital cryptocurrency include PayPal allowing its account holders to buy, sell, and transfer bitcoin, as well as Square’s bitcoin purchase worth $50 million.
  • If bitcoin is able to decisively trade above the $14,000 level, the next level of resistance traders will watch is its all-time high near $20,000.
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Bitcoin surged more than 3% on Tuesday to $13,480, putting the digital currency within striking distance of its June 2019 high of $13,880.

If bitcoin does surpass $13,880, it would reach its highest level in almost three years.

The cryptocurrency has benefited from a stream of positive headlines over the past week. Square said it furthered its investment in bitcoin by purchasing $50 million worth of the digital coin in a single day without

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