Key Takeaways

  • Bitcoin hit $19,000 on multiple exchanges today. It’s the first time it’s touched the price point since December 2017.
  • The number one crypto has attracted a huge wave of investors over the last few months.
  • If market conditions continue, Bitcoin looks poised to break its all time high in the near future.

Share this article

Bitcoin briefly surpassed $19,000 this morning. This is the first time the first-ranked cryptocurrency has hit the price level since December 2017, when its value almost doubled from $10,000 in the space of less than a week.

Bitcoin Bulls in Full Control

According to the data analytics site CoinGecko, Bitcoin hit an all-time high price of $19,665 on Dec. 16, 2017. 

Source: TradingView

Phemex - 10 off

The milestone follows several months of sustained highs. Since August, Bitcoin has surged by more than 70% from around $11,000. Aside from the “Black Thursday” market crash in March, it’s been relatively stable at the $10,000 mark for the last few years.

Many factors have likely contributed to the price hike, the primary of which has been institutions taking a shine to crypto. Several wealthy investors have recently announced purchases in Bitcoin, seemingly buying into the idea that it represents a form of “digital gold.” 

Recently, the payments service PayPal made something of a U-turn on crypto, too. Only yesterday, the company’s CEO, Dan Schulman, confirmed their plans to integrate crypto payments in a CNBC interview

The heightened level of interest among prominent individuals like Michael Saylor has led to widespread media coverage surrounding Bitcoin. Castle Island Ventures investor Nic Carter was recently invited to speak about the cryptocurrency with Bloomberg. He was asked whether its recent halving event was a possible factor in the price rise. Carter suggested that the event was already priced in because it had been forecast so far in advance.

Of course, another reason for Bitcoin’s rise is the rocky socioeconomic climate that’s come to the fore in 2020.

The Coronavirus pandemic has catalyzed what some call the worst global economic crisis in a century, and Bitcoin seems to have been accepted as a store-of-value amid central banks fighting for solutions to the crisis. This year, the Federal Reserve has printed trillions of dollars to sustain the world economy. 

At the time of writing, Bitcoin’s market cap is just over $350 billion. That puts the digital currency’s value above one of the world’s biggest investment banks, JPMorgan Chase. 

Share this article

178 COMMENTS

  1. I simply needed to thank you so much once again. I’m not certain the things that I would’ve taken care of without the actual ways contributed by you directly on such a question. It was before the daunting issue for me personally, but coming across a new specialized approach you resolved it took me to jump for happiness. I will be grateful for your service and thus trust you are aware of an amazing job you’re carrying out instructing many people through your webpage. I know that you have never encountered any of us.
    blockchain

  2. Hi there it’s me, I am also visiting this site daily, this web site is in fact good and the people are actually sharing pleasant thoughts.|

  3. Do you have a spam problem on this site; I also am a blogger, and I was curious about your situation; many of us have developed some nice methods and we are looking to trade methods with other folks, please shoot me an email if interested.|

  4. Spot on with this write-up, I honestly believe this amazing site needs a great deal more attention. I’ll probably be returning to see more, thanks for the information!|

  5. It’s in fact very complicated in this full of activity life to listen news on TV, therefore I only use internet for that reason, and take the most up-to-date information.|

  6. I am really happy to read this website posts which contains lots of useful data, thanks for providing these kinds of statistics.|

  7. Hello would you mind letting me know which webhost you’re utilizing? I’ve loaded your blog in 3 different browsers and I must say this blog loads a lot quicker then most. Can you suggest a good hosting provider at a honest price? Cheers, I appreciate it!|

  8. I think this is among the most significant information for me. And i am glad reading your article. But want to remark on few general things, The site style is wonderful, the articles is really great : D. Good job, cheers|

  9. Woah! I’m really enjoying the template/theme of this site. It’s simple, yet effective. A lot of times it’s challenging to get that “perfect balance” between usability and visual appearance. I must say you have done a great job with this. Also, the blog loads super quick for me on Opera. Exceptional Blog!|

  10. Wow! Finally I got a webpage from where I be capable of truly take useful data regarding my study and knowledge.|

  11. This is a really good tip particularly to those new to the blogosphere. Simple but very precise information… Many thanks for sharing this one. A must read post!|

  12. It’s awesome designed for me to have a web page, which is helpful in support of my know-how. thanks admin|

  13. I’m truly enjoying the design and layout of your website. It’s a very easy on the eyes which makes it much more enjoyable for me to come here and visit more often. Did you hire out a designer to create your theme? Fantastic work!|

  14. Link exchange is nothing else but it is just placing the other person’s website link on your page at appropriate place and other person will also do same in support of you.|

  15. Hi there, I found your website by means of Google whilst looking for a comparable topic, your website came up, it seems great. I have bookmarked it in my google bookmarks.

LEAVE A REPLY

Please enter your comment!
Please enter your name here