Bitcoin passes $20K and reaches all-time high
After reaching a previous all-time high on November 30th, and December 1st, , bitcoin is now trading well above $20, and has surpassed its previous peak price.
Bitcoin’s value has rapidly increased over the past two months. According to CoinMarketCap, you could buy one bitcoin for $11, on October 16th.
As I’m writing this post, you can buy one bitcoin for $20, — it represents a % increase compared to yesterday’s price. It is now priced well over $20, on all major exchanges.
You might remember the bitcoin frenzy from At the time, Bitcoin nearly reached $20, and crashed shortly after. As always, the fact that bitcoin has been going up doesn’t mean that it’ll go up in the future.
This time, the rally seems a bit different, as there’s not as much hype around bitcoin. As we’re entering a long economic crisis, some institutional investors are looking for alternative assets — and bitcoin is one of them. Some people could choose to hold their crypto assets for a longer time.
Still, there are a lot of new bitcoin investors who purchased just a fraction of a bitcoin on consumer fintech apps, such as Square’s Cash App, Robinhood and Revolut. Let’s see how the market evolves in the coming months.
Image Credits: CoinMarketCap
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