Bitcoin is now in unchartered territory, and prices have never been this high. But this bull run is different. Institutions are pumping hundreds of millions of dollars into the world’s biggest cryptocurrency—and there’s no sign of this appetite abating. You could argue that the biggest danger to BTC’s dramatic surge is the holiday season, when some traders will start logging off for Christmas and New Years. As weekends often spark volatility in the Bitcoin markets, the low trading volumes mean first cryptocurrency is prone to dramatic surges and painful pullbacks.
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Financial giants power Bitcoin’s $20,000 bull run
As institutions and big-name investors pile in, the first cryptocurrency passes a big psychological milestone
The long-awaited Dec. 16 milestone follows a string of high-profile investors and financial firms jumping very publically into bitcoin. This includes Wall Street legends Stanley Druckenmiller and Paul Tudor Jones, Mexican billionaire Ricardo Salinas Pliego, and CNBC “Mad Money” host Jim Cramer, who have all revealed bitcoin investments this year.
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Markets Report: Bitcoin hits $20,000 as sellers give way to new all-time highs
A fresh charge sees multiple exchanges hit record Bitcoin price levels as bulls show no signs of giving up the fight in the BTC ‘liquidity crisis’
That level marked not only daily gains of more than 6%, but also a new all-time high for Bitcoin on multiple major exchanges. At press time, the largest cryptocurrency was experimenting with never-before-seen levels amid intense volatility. Just hours before, it had traded at closer to $19,000 support.
- Is it time for another spike? And will it be accompanied by another nose dive? (Photo: CoinMarketCap)
MARKETS REPORT: Bitcoin Targets $9,800 as Price Echoes Launch to $20,000 All-Time Highs
A period of consolidation appears increasingly close to a breakout as one analyst notes passing similarities to late 2017 for Bitcoin
Bitcoin hitting $20,000 all-time highs has returned to the spotlight as BTC price action mimics the infamous surge from late 2017.