Congratulations to cryptocurrency enthusiasts and investors as Bitcoin finally did it. The renowned cryptocurrency managed to break above the coveted $20,000 mark and now headed to uncharted lands.
After a long wait, Bitcoin managed to peak above the coveted $20,000 today, setting a brand new all-time high. Apart from a brief period in 2017, the coin hasn’t traded above this level throughout its history.
Bitcoin Jumps Above $20,000 Setting New Higher High
Having enjoyed a great run through the month, many bitcoin traders are having the time of their lives. The primary cryptocurrency had gone on a great bullish streak, increasing tremendously, and raising expectations.
However, over the past few weeks, things have been somewhat stagnant and even rather worrisome. Since breaking its 2017 previous ATH in recent November, Bitcoin made a few unsuccessful attempts at $20,000. Unfortunately, it retraced substantially after each one.
It’s worth noting that traders consider this to be a price discovery territory because the cryptocurrency hasn’t traded above it yet.
Will the bullish run continue?
It remains interesting to see how the cryptocurrency will perform. It’s also the holiday season around the world, and with it usually comes serious volatility.
Technically, BTC touched $20,093 on BitMEX Exchange back in 2017, but it could be argued that this is because of the price formation methodology used by the exchange’s engine. Given that it hasn’t surged past it on any other exchange, it remains well-accepted that the territory above $20,000 is still uncharted.
The potential for bitcoin is huge. Earlier today we reported that popular author and crypto investor, Kiyosaki projects the price of bitcoin to rise beyond expectation. Robert Kiyosaki predicts that bitcoin will likely surge beyond $50,000.