By Hidayat Sultanli
On Jan 08, 2021
Bitcoin did what others expect from Bitcoin. During 22 days, it doubled the price once was hard to reach, and it goes for more.
Bitcoin aims high with the latest increase in the price. Yesterday at the beginning of the price was more than $37k. During the day, Bitcoin sequentially hit $38k, $39k. The big moment for the day was when Bitcoin hit the $40,000 price level. It did not take too long, and it was a hook to the higher price levels. If we go back in time to December 16, when Bitcoin hit $20,000, it was a remarkable event for the community. Doubling this price in 22 days was unprecedented. Bitcoin will not stay there for long. If it doubled in 22 days, then it can double $40,000 soon.
Just after Bitcoin hit $40,000, the price went 4 thousand below. It was one of the last chances for people to buy Bitcoin below $40k. The lowest rate was around $34,400. After the dip, it recovered to $39,900. At the time of writing, the price of Bitcoin is $38,619. Bitcoin enthusiasts can still buy Bitcoin below $40,000.
The price increase of Bitcoin spelled over to the Google search results. From the beginning of December, people began to search for Bitcoin massively. According to Google Trends, the interest in Bitcoin increased during the last month. If we compare it to 2017, then popularity is half of the scale. The main contributing factor to this popularity is the steady price increase in Bitcoin.
There is so much to wait for from Bitcoin. As the demand increase, the price will go up. We cannot imagine what will happen if massive adoption occurs.
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