After reaching a earlier all-time excessive on November 30th, 2020 and December 1st, 2020, bitcoin is now buying and selling effectively above $20,000 and has surpassed its earlier peak worth.
As I’m penning this submit, you should buy one bitcoin for $20,775.72 — it represents a 7.27% improve in comparison with yesterday’s worth. It’s now priced effectively over $20,000 on all main exchanges.
You may keep in mind the bitcoin frenzy from 2017. On the time, Bitcoin practically reached $20,000 and crashed shortly after. As at all times, the truth that bitcoin has been going up doesn’t imply that it’ll go up sooner or later.
This time, the rally appears a bit completely different, as there’s not as a lot hype round bitcoin. As we’re getting into an extended financial disaster, some institutional buyers are searching for various belongings — and bitcoin is one in every of them. Some individuals may select to carry their crypto belongings for an extended time.
Nonetheless, there are lots of new bitcoin buyers who bought only a fraction of a bitcoin on shopper fintech apps, corresponding to Sq.’s Money App, Robinhood and Revolut. Let’s see how the market evolves within the coming months.