Business & Investment

Bitcoin Price: Will It Exceed $ 30ka Coins?

As prices approach $ 30,000, Bitcoin is on track for the longest monthly streak in over a year.

  • Bitcoin climbed to an all-time high of over $ 28,000 on Christmas weekend
  • We are on track for the longest consecutive monthly win since mid-2019
  • Bitcoin prices more than tripled in 2020 during a pandemic

Bitcoin prices hit a record high during Christmas, reaching $ 28,500 yesterday, the longest consecutive monthly win in over a year.

Cryptocurrencies have risen in recent months, and the execution of returns in October, November and December is the longest stretch since mid-2019.

Prices have fallen 4% today to $ 26,596 per coin, which is about $ 10,000 more than a month ago, and the March low was below $ 4,000.

Bitcoin has risen sharply recently, reaching an all-time high of $ 28,365 on Sunday.

Those who bought £ 1,000 worth of cryptocurrency in early 2020 would have seen it today at £ 3,750, making 275% in less than a year.

The surge occurred primarily in late 2020, initially dropping to $ 3,800 per coin in mid-March, when investors dumped all types of assets in bulk sales in response to the coronavirus.

But many now see cryptocurrencies as a hedge against the risk of a weaker dollar and faster inflation.

Even asset managers and banks are looking to Bitcoin to diversify their holdings. Bitcoin has been paying attention to Bitcoin until very recently.

Tom Stellzer, a cryptographic specialist in the Finder, said: “Bitcoin has proven to be a valuable hedge by defeating traditionally valuable assets such as gold.”

Some expect the bubble to burst as it did in 2018 after a similar surge.

“In my sense, we are very close to the top-but we can reach $ 30,000,” said Vijay Ayyar, Head of Business Development at Singapore Cryptographic Exchange Reno.

“You should definitely see a pullback, but it’s probably smaller. You may only see a 10% to 15% drop.”

Both eToro and Revolut, which allow daily UK investors to buy and sell Bitcoin, said that by the time they hit a record high in December, the number of clients holding applications and Bitcoin had increased significantly. This is Money. Told to.

At the beginning of December 2017 and January 2018, Bitcoin prices showed similar surges during the festival.

Prices soared from $ 10,000 to nearly $ 20,000 before falling to about $ 3,000 towards the end of 2018.

Bitcoin prices soared in 2020, but the most significant in the last three months

Bitcoin prices soared in 2020, but the most significant in the last three months

How about FCA’s Bitcoin ban?

From January, UK crypto investors may find it a bit difficult to buy Bitcoin.

This bans the sale of crypto derivatives and other products to individual investors that mimic the performance of cryptocurrencies such as Bitcoin, while financial regulators are at risk of huge losses. Because it is.

What this means is that investors will no longer be able to buy something that tracks the price of Bitcoin like certain mutual funds, and will have to buy the coin itself.

Importantly, this means that things like eToro and Revolut, and cryptocurrency exchanges like Coinbase continue to be open to everyday investors in the UK.

eToro’s Simon Peters believes this will have a negligible impact on UK crypto traders. He states: “The interest is clearly biased towards holding real cryptocurrencies, as evidenced by the fact that 85% of all cryptocurrency positions in the UK eToro are invested in underlying assets.”


Bitcoin Price: Will It Exceed $ 30ka Coins? Bitcoin Price: Will It Exceed $ 30ka Coins?

Back to top button