Bitcoin has reached $ 25,000!
After days of consolidating its position above the $ 20,000 mark, Bitcoin, the world’s largest cryptocurrency, finally surpassed the $ 25,000 price level for the first time in its history today on exchanges such as Coinbase and Bitstamp. While BTC soon falls below the level, most expect BTC to rise again soon.
The development was celebrated by many in the community, many of whom are optimistic about Bitcoin’s price prospects in 2020, especially since the last few months it has been very bullish for BTC.
Bitcoin’s strong consolidation of between $ 22k and $ 24.3 thousand is a sign that it is resistant to fixes, which is one of the determining factors for Bitcoin in 2020. That was not the case at the time in 2017, the volatility was extremely high. Bitcoin barely survived for long above its previous high of close to $ 20,000.
The importance of corporate and retail Bitcoin Trading
While retail trade has mostly run the show in 2017, the strength of the current bullish rally is largely split between both corporate and retail investors.
In fact, the smart money injection played a key role in bringing a level of legitimacy to Bitcoin, something unheard of in 2017.
In fact, respected investors such as Paul Tudor Jones have vocally appreciated Bitcoin’s rise in the current economic landscape, burdened with a level of instability very similar to that seen in 2008.
Trading features also improved in 2020. long-term investing has now become the norm among BTC investors, and many now better understand the true value of Bitcoin as a solid form of investment.
Looking ahead in 2021
Much has changed in 2020 and the digital asset industry will welcome a new wave of adopters going forward. While there is no assurance about BTC, Bitcoin is expected to avoid a decline similar to that seen in 2017.
But for most, it’s not the endgame. $ 25,000 Bitcoin is only a quarter of $ 100,000, a figure many believe will be BTC’s valuation in the next year or two. Only time will tell how soon it will be.