Get ready for US elections: 5 things to watch in Bitcoin this week

Bitcoin starts a new week and month just dollars away from its highest monthly close in history - what's in store next?

Economic firsts have accompanied the virus, with consequences including companies ditching fast-inflating cash for Bitcoin.

Zschaepitz had noted over the weekend that Bitcoin was rising in tandem with negative-yielding debt volumes worldwide.

For Bitcoin proponents, the time was as right as ever to buy, as the European Central Bank confirmed more stimulus and more money printing.

"CME bitcoin futures opening with a gap up for the fourth consecutive week. That's pretty bullish," Voell commented.

As Cointelegraph reported, only a small gap at $16,000 remains higher up on the historical Bitcoin price chart, while lower down, a gap at $9,600 failed to get filled the last time that Bitcoin briefly dipped below $10,000.

For veteran trader Peter Brandt, who correctly forecast various Bitcoin price events before they happened, the results were more than promising.

Beyond $14,000, very little remains in the way of Bitcoin rising towards its "Ultimate" resistance at all-time highs near $20,000.

As Cointelegraph noted last week, Bitcoin network fundamentals are seeing upheaval currently.

The phenomenon is not necessarily bad. Lower difficulty means easier participation for smaller miners, while increased participation overall will lower Bitcoin transaction fees and decrease block times, both of which have risen sharply over the past two weeks.