Bitcoin price hits all-time high ! Can BTC Hit $30K Before 2020 Ends?
- Bitcoin had a historical bull run by crossing $20,000 for the first time ever since its inception in 2008.
- Like icing on the cake, Bitcoin price hit $22,000 target comfortably and expected to touch $24,000.
- With the ongoing bull run, Bitcoin is expected to reach greater highs escorting many altcoins together.
- Considering the ROI and the remarkable growth, Bitcoin is considered as the ‘Best Performing Asset’ of this Decade.
Three years prior on the same day, December 17, 2017, Bitcoin attained its first-ever all-time high of $19,814. Now the history is all set to repeat as Bitcoin has smashed its previous ATH to form new highs above $22,000.
Currently, Bitcoin price is breaking all the resistance levels and no new resistance levels can be speculated. The support levels are also not much strong and appear to be out of reach for the BTC price.
The next target is speculated as which is expected to be attained in the coming hours. However, one of the analysts, Bitcoin Educator and Developer Jimmy Song has predicted that Bitcoin may have a huge $40,000 green candle very soon in the coming days.
Moreover, Kevin Svenson, an analyst has said that the Bitcoin bull rally will continue over the entire period of 2020. He has set a huge target of $250,000 and hopes Bitcoin price will hit the target in 2021.
Altcoins Follow Bitcoin Bull Rally
With the Bitcoin steep jump gaining nearly $2000 in a single day, many other altcoins also follow the path. World’s second-largest crypto Ethereum which was swinging very passively got accelerated and crossed $650 within no time. In the coming days, Ethereum price is expected to touch $1000 by Christmas as predicted by an analyst’s The Crypto Dog .
Previously, XRP was not following the Bitcoin bull run as it kept on plunging when Bitcoin surged. But in the past couple of hours, XRP Price also skyrocketed from $0.46 to $0.56 following the Bitcoin bull rally.
The DeFi space also witnessed a spike with the bitcoin uptrend, as the major DeFi tokens like LINK, UNI, YFI Aave, and many others have surged remarkably.
Bitcoin — The Best Performing Asset !
Many investments may have grown or dipped below the expected levels in this decade. Some may have followed their traditional swifts while some have come out as a leader by surging with historic levels. Bitcoin has topped such lists.
What if I say, people who invested just $100 in Bitcoin at the beginning of this decade are millionaires now!! Hard to believe, but true.
Bitcoin has grown magnificently in the decade by on an average of 200 percent per year and has a cumulative percentage of more than 600K since 2011. With the magnificent performance, Bitcoin is considered as the best investment tool of the decade with high returns.
Originally published at https://www.coingyaan.com on December 17, 2020.