UK Markets closed
  • NIKKEI 225

    28,242.21
    -276.97 (-0.97%)
     
  • HANG SENG

    28,862.77
    +288.91 (+1.01%)
     
  • CRUDE OIL

    52.09
    -0.27 (-0.52%)
     
  • GOLD FUTURES

    1,836.80
    +6.90 (+0.38%)
     
  • DOW

    30,814.26
    -177.24 (-0.57%)
     
  • BTC-GBP

    26,634.12
    +299.12 (+1.14%)
     
  • CMC Crypto 200

    702.43
    -32.71 (-4.45%)
     
  • Nasdaq

    12,998.50
    -114.10 (-0.87%)
     
  • ^FTAS

    3,798.30
    -5.45 (-0.14%)
     

Bitcoin passes $20K and reaches all-time high

Romain Dillet
·1-min read

After reaching a previous all-time high on November 30th, 2020 and December 1st, 2020, bitcoin is now trading well above $20,000 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 $11,500 on October 16th.

As I’m writing this post, you can buy one bitcoin for $20,775.72 — it represents a 7.27% increase compared to yesterday’s price. It is now priced well over $20,000 on all major exchanges.

You might remember the bitcoin frenzy from 2017. At the time, Bitcoin nearly reached $20,000 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