Bitcoin Summary for December 2020

1. On Christmas day, bitcoin has re-written its all time high three times in a day at $24700, $24800, and $25000 (supposedly done by retails rather than institutions as this happened on a holiday). The bitcoin price is showing $27862 as I am writing this article, which is once again another new all time high.

2. Many financial institutions have become more positive and open towards bitcoin and cryptocurrencies. People's perceptions on digital currencies have changed substantially and apparently more and more people are becoming interested in owning bitcoins.

3. Observing the bitcoin chart for the last 3 to 4 weeks, more institutions and average people are loading up and getting into bitcoin gradually.

4. With all these large financial institutions involved now, there would not be price corrections as dramatic as before weakening its price volatility.

5. Each dip was instantly bought up or did not take long to recover in the recent bitcoin chart, and we have officially entered the buy-the-dips mentality -- meaning people consider dips as opportunities to get in or buy more bitcoins than getting scared to sell and get out.

6. Scott Minerd, the global head of investment at the $270 billion asset management firm Guggenheim Investment recently expressed his thoughts that BTC should be priced at $400,000.

7. Coinbase is currently under review by the SEC for its IPO and to go public. 

A lot of great things have happened this year for bitcoin and cryptocurrencies in general. But I think 2021 would be even better and brighter for bitcoin and altcoins. What do you think? Do you think bitcoin would hit $30,000 before the end of this year? Please feel free to share your thoughts about bitcoin price predictions in the comment below.