At the time of writing, Bitcoin is trading at $18,500, without much resistance to $20,000, according to many analysts. Bitcoin's market cap hit a record high of $343 billion today (due to the higher number of bitcoin in circulation compared to its highs back in December 2017). Bitcoin has now conquered $15,000, $16,000, $17,000, and $18,000 milestones in November alone, up 13% over the past week and 53% over the past 30 days. Many crypto analysts point to the $20,000 level as a strong psychological barrier for investors, given its strong rejection at these prices back in 2017. Bitcoin HODLers may look to take swift profits at $20,000, but many analysts think it will be a speed bump. "This bull run is different than 2017. We're seeing adoption from major players," said Alex Adelman, CEO and co-founder of Lolli, a bitcoin rewards company, in an email to CNN Business. "They're all betting big on bitcoin as a safeguard against inflation, uncertainty, and the turmoils of 2020." Craig Erlam, a senior market analyst at European forex exchange OANDA, urges a little more caution on Bitcoin, "There's something about the immense gains of the last month that make me a little nervous, given past experience." As the global economic climate worsens, cases of coronavirus spike, and institutional giants like Square, PayPal, Fidelity, Citigroup, Grayscale, and MicroStrategy continue to buy (and praise) bitcoin, it might be the perfect opportunity for the asset to test new all-time highs.