By awais ahmed
On Dec 16, 2020
Bitcoin (BTC) reached a new record and managed to surpass the $ 20,000 level. The leading cryptocurrency is trading at $ 20,657 as of the time of publication.
The long wait is finally over. Bitcoin (BTC) did what was expected. Today, Bitcoin has managed to set a new record, surpassing $ 20,000 just days before 2021. In past weeks, the Bitcoin price surpassed the $ 17,000, 18,000, and $ 19,000 levels. As of November 30, it broke its all-time high, exceeding $ 19,775. Immediately afterward, it was wondered whether BTC could exceed the $ 20,000 level or not. Today, Bitcoin has surpassed $ 20,000, maintaining the bullish momentum it started earlier. Analysts say there is a chance for Bitcoin to rise further if it exceeds critical levels. The next resistance levels for the leading cryptocurrency are $ 21,050, 22,200 and $ 23,800.
The price of Bitcoin, which increased along with the stock markets with massive government stimulus in 2020, has reached a record high today, exceeding $ 20,000. In April of 2020, when the first stimulus checks were sent, it was seen that some people were depositing it in cryptocurrency Bitcoin. History repeated once more. The stimulus aid has had a positive impact on Bitcoin prices again. Bitcoin prices skyrocketed as Congress passed the $ 748 billion stimulus and spending bill. The cryptocurrency, which has been quiet for days, has finally surpassed $ 20,000.
Bitcoin is very strong this time. The leading cryptocurrency is seen as a better store of value than fiat money. In the last months of 2020, institutional demand for BTC increased rapidly. If such support continues to come to leading cryptocurrency, the price will rise rapidly with it. More and more organizations and investors see Bitcoin as a store of value and reserve asset, making BTC stronger compared to 2017.
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Disclaimer: All information provided in the content is for informational purposes only and should not perceive as an investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.
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