On Dec. 16, Bitcoin finally breached the $20,000 barrier and its previous ATH, after weeks of rallying and flirting with new price levels. The price currently sits at over $23,000 at the time of publishing.
- Bitcoin surged past $20,000 on Dec. 16 amid a flurry of retail investment
- Exchange data shows heavy activity across all major exchanges
- Several notable people in the cryptocurrency industry celebrated the achievement, and heralded 2021 as a landmark year; Binance CEO Changpeng Zhao tweeted about the asset’s staying power over the years
- Predictions for prices in 2021 range from $100k to $300k; a Guggenheim executive predicts that Bitcoin could eventually reach $400k, while analysis from Glassnode’s CTO puts bull this cycle’s target at over $200,000
- Prominent market analyst PlanB believes that Bitcoin’s price will range between $100k to $288k, though others are less certain of this
- The new price levels puts institutional investors and companies, many of whom have joined market in 2020, at a considerable profit; Microstrategy has invested over $500 million in BTC, and is one of the most prominent investors
- Along with Bitcoin, other assets’ prices are also on the rise, with Ether hitting $645, which it was last at in May 2018
