Wow this is so interesting !!
BTC (Bitcoin), the most favored and dominant cryptocurrency in history has once again breached another mark.
Today, its price soared to $25K and setting a new all-time high in crypto history. The cryptocurrency is strongly going on a consistent price rally.
Bitcoin started trading at merely $7,189 at the start of the year as per data from Crypto.co. From then on, the price of the virtual asset continued to climb. Despite its crazy swings given its volatility, its price has been consistently bullish breaking ground every now and then. Finally, it has set another record today, the highest in its history.
Bitcoin has increased by 247% from its price at the beginning of 2020. The current price rally was an effect of the massive adoption by institutional investors.
Prices of other altcoins are also following suit.
ETH (Ether) has increased by 7.17% with its price at $627 after declining at $585 this week.
XRP on the other hand has rebounded after recording its lowest price at $0.215. Its price made a big jump by 75% and is currently trading at $0.37. The recent price dip was a result of a new lawsuit filed by the U.S. SEC on Dec. 22.
As of writing, Bitcoin is currently trading at $24,852.81. With BTC brushing the $25K mark, is it going to smack the $30K on its next swing? What’s going to be next for Bitcoin? Will it continue to dominate or will it be outperformed by other cryptocurrencies next year? Your thoughts.
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https://crypto.co/technology/bitcoin-reaching-25k-mark-setting-an-all-time-high-in-history/That massive adoption by institutional investors is the real deal that took Bitcoin to its current state, this is because Instead of uncertainty ruling the market whenever the price drops, it rather leads to more trust thus urging people to buy more and hold, and today it has broken and set a new ATH. Also, it is good to know that, despite the fact that the price keeps growing, and of course predictions will still abound but let us endeavour to follow the market correctly and investing wisely, because as it stands no one knows the new price it will get to, might surpass $30k come next year or might not. But one thing that stands out is, mass adoption is gradually crypting in and the attention it is getting is a very interesting one.