Today the crypto market leader, Bitcoin, has once again left investors speechless after reaching above $ 19,000 for the first time since 2017. Will it break its all-time high? Or, on the contrary, do you expect a correction?
Bitcoin climbs the skyscraper
At the time of writing, the price of Bitcoin remains above $ 19,000, achieving a cumulative increase over the last three months of 66%. However, it appears to be showing signs of retreat.
We would all like to know precisely what will be the next Bitcoin move, is it time to invest?
It seems that everything has been happening very fast, however, Bitcoin has been climbing the skyscraper little by little since Black Thursday in March. Obviously, many crypto investors are afraid that the history of 2017 will repeat itself, but the set of circumstances that drive it are completely different.
Meanwhile, gold has been running lower since August and appears to be moving towards a balanced relationship between buyers and sellers.
However, according to CoinTelegraph contributor Joseph Young, based on various data points on the chain, a pullback in the price of the leading crypto is quite likely.
Young evaluated the Spent Output Profit Ratio (SOPR) indicator, stablecoin inflows, sales orders stacked at $ 19.00, and the Crypto and Fear Index.
So even though Bitcoin could soon break its all-time high, we could see a pullback in price. Pay attention!
Along with Bitcoin, crypto Stellar and XRP join the run
Stellar (XLM) has risen 58% and Ripple (XRP) has seen a 33.39% increase over the last 24 hours, according to CoinMarketCap.
And, it’s not just these, other altcoins have been seeing an interesting rally from Bitcoin’s bull run.
In fact, according to TradingView, the price of XRP hit $ 0.92 for less than a minute earlier today.
Bitcoin trade on Binance hits a high
Bitcoin’s bull run has led the entire crypto community to live in the moment. In this way, both the total trading volumes and the open interest in Bitcoin futures on Binance have reached all-time highs.
In accordance with The Block, Bitcoin’s daily volume on Binance has hit an all-time high, surpassing the previous high set between late 2017 and early 2018.
Coinbase too experiment A major boom, however, has yet to break through its all-time high crypto.
Decisive moment in the history of crypto Bitcoin
Christine Sandler, head of sales and marketing at Fidelity Digital Assets, explained during the Unchained podcast that factors such as the pandemic and productive regulation have helped the crypto leader a lot this year.
Consequently, Sandler sees 2020 as a key year for Bitcoin adoption. So much so that Fidelity is considering opening its services to retail investors at some point.
“What we did see in 2020 was a broader adoption of that digital gold narrative, it began to resonate with other groups of institutional investors, namely hedge funds, ultra-high net worth individuals, and subsequently family offices.”Sandler said.
ETH 2.0 Crypto Update Launch Confirmed
Since the launch of the ETH 2.0 deposit contract on November 4, the developers have experienced arduous moments of suspense. However, today, with 94% met the goal, the launch of the crypto update was confirmed on December 1.
For a few weeks, noting the low level of participation from the crypto community, many questioned the possible launch.
However, in an unexpected twist, in 14 hours more than 200,000 ETH was sent.
In a few lines …
- PayPal plan expand its crypto services in 2021.
- Brett Tejpaul, Coinbase’s Head of Institutional Hedging, said that institutional investors’ interest in crypto has tripled.
- SBI will borrow a minimum of 0.1 Bitcoin up to a maximum of 5 Bitcoin at an annual interest rate of 1% starting today.
- Crypto exchange Binance sent email notifications to crypto users in the United States informing that in 14 days their account will be suspended, according to Decrypt.