Bitcoin close to $22,000 right before New Year
It was December 17, 2017, the last time we saw Bitcoin reach its all-time high before it started to decline. Today December 16, 2020, we have marked a new date in the history books for Bitcoin and the whole crypto market. The BTC/USD ticker topped at $21,475 on Coinbase. Many have doubted that the price could ever recover from the drastic decrease after the rally in 2017. On the other hand, we have the ones that always have been talking about Bitcoin and predicted the price of it to reach above $100,000. Today we can give some credit to all the people who went through the tough rally to get back here, you are the ones that made it possible.
What made it go up 10% today?
The first question that comes to mind when an asset makes a big move is why? The simple answer is all the days where it pretty much stands still is where people are accumulating. After accumulation, there is always some action, and it could be triggered dependent on various things. Any particular event did not trigger today’s rally with over a 10% increase in Bitcoin besides the fundamentals and the uncertainty in the world due to the US Election 2020. With that said, I think that we will see the price increase in the coming months.