The world’s top cryptocurrency by market capitalization, Bitcoin, peaked at $ 18,476. A price not seen since December 16, 2017. After skimming $ 18,500, prices fell below $ 18,000 for about two hours before crossing the level again. With BTC at $ 18,000, will it approach its all-time high?
According to our online crypto tool, Bitcoin stands at USD 18,200 with an increasing variation of 7% in the last 24 hours. For their part, some cryptocurrencies on the market also posted strong gains.
Specific cases such as Chainlink (LINK), Monero (XMR), and Ethereum (ETH) woke up green. However, for XPR (XPR), Litecoin (LTC), Bitcoin Cash (BCH), and Binance (BNB) just to name a few, they did not perform the same. They represent falls of over 2%.
COVID-19 played a key role in the entry of new BTC investors
As long as Bitcoin is at $ 18,000 and keep rising. Traders are trying to secure a new all-time high. The number of institutional investors jumping on the BTC bandwagon continues to rise.
This time, institutional and retail investors are interested in buying Bitcoin. And, data from the cryptocurrency derivatives markets shows that institutional investors are pushing Bitcoin volumes to new highs.
According to the annual survey of the grayscale company, 83% of all Bitcoin investors started buying in the last 12 months. A time when COVID-19 cases were minimal.
38% of all current Bitcoin investors joined in the last four months. And among them, 63% say that the economic disruption caused by COVID-19 positively influenced their decision to buy BTC.
Bridgewater’s Dalio: ‘I’d love to be corrected’ on Bitcoin
Bridgewater Associates founder Ray Dalio asked for and received a large dose of “radical frankness” on Tuesday when he said that he would “love to be corrected” for the negative views on Bitcoin he voiced last week.
In a Twitter thread, the president of the world’s largest hedge fund said, “I may be missing something about BTC, so I would love to be corrected.”
From privacy arguments to using BTC as a hedge against inflation. Dalio’s invitation brought out the Bitcoin bulls in droves along with a handful of naysayers.
Unusual for Crypto Twitter, the responses were largely respectful, informative, and in many cases hilarious and well worth their time.
- Ricardo Salinas Pliego, president of Grupo Salinas in Mexico, and considered the second richest man in the nation, is promoting the purchase of BTC on his Twitter account. At the same time, he confessed to having 10% of his liquid portfolio invested in the cryptocurrency.
- For this Wednesday, November 18, at 6:00 p.m., a new #bslSeminar organized by Blockchain Summit Latam is planned that will be titled: «Signs of an upcoming Bitcoin bull run?». The meeting will be totally free and will be taking place on the BSL YouTube channel.
- Binance CEO Changpeng Zhao said that DeFi (decentralized finance) is here to stay. Despite the fact that many DeFi projects show signs of being in a bubble.