The price of bitcoin for the first time in history overcame the level of $ 20,000

TO THE MOON!Today, for the first time in its history, the most popular cryptocurrency Bitcoin (BTC) has broken through the main onepsychological mark at the level of $ 20,000 and reached $ 20,815 at the time of writing.

After the collapse to $ 3,000 in December 2018, inIn November this year, BTC began a series of record highs, almost touching $ 20,000 in the first days of December. It then corrected to about $ 17,600.

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Over the past 3 months, the price has increased by about 80% and by about 190% over the year.

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Blockstream Chief Strategy Officer Samson Moe also commented on the event:

"It is very likely that in 2021, due to corporate and institutional demand, bitcoin will reachWe also see a steady demand for hosting for bitcoin miners, which usually indicateson bullish trends."

Quantum Economics analyst Lou Kerner also points to institutional and corporate demand, adding that Bitcoin will absorb gold's share of the savings market next year.

Chief Financial Officer of GreenidgeGeneration hybrid energy and crypto mining company Tim Rainey does not rule out that next year "the price could easily reach the $ 25,000 to $ 30,000 range."

Unlike the 2017 bubble, Bitcoin's latest price rally is supported by fundamentals - organizations that invest in cryptocurrency or integrate them into their services.

The current year has been marked by announcementsSeveral major companies, including MicroStrategy, Square and Ruffer Investment, are committing hundreds of millions of dollars to the cryptocurrency, marking the long-awaited arrival of institutional investors. In addition, more than $11 billion worth of bitcoins were concentrated in the Grayscale investment trust.

Changpeng Zhao, CEO of the largest cryptocurrency exchange Binance, believes there is more than just big name investors behind the current rally.

“Increasing liquidity, improving channels forFiat deposit / withdrawal and institutional investor involvement amid emerging regulatory certainty delights those of us who believe in the long-term potential of cryptocurrencies to spread the freedom of money around the world, - he said.

Now people will be pondering how stable current prices are, given bitcoin's sharp declines from these levels in the past. "

 

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