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It took three years, but Bitcoin managed to break the previous all-time high and overcome the barrier for the first time $ 20,000– When we broke the news, the value of a single bitcoin is around $ 20,500, after an increase of $ 20,800. The previous high was reached exactly three years ago, on December 17, 2017 – for reference, the Bitstamp exchange then reported $ 19,666.
Since it reached the previous high of Bitcoin, and in general the entire cryptocurrency market, it has known three years of purgatory with a decline that brought the total crypto market capitalization go from $ 830 billion at the end of 2017 a little over $ 100 billion a year later.
Since then, a recovery, which was broken in mid-2019 to plummet again to previous lows during the month of March this year. This is where the real cavalcade began, which saw Bitcoin move with conviction to previous highs, then arrive today, December 16, 2020, to set a new record.
Bitcoin after three years breaks the highs and sets a new record
A trip of around $ 16,000 in just 9 months, first corroborated by the halving, which took place on May 11, 2020, and in the last weeks since the opening of PayPal to cryptocurrencies. The payments giant has allowed them to enter its platform by making cryptocurrency transactions and payments available, initially only to US customers, but with plans to expand to other markets in the coming months.
And now the value of Bitcoin is preparing to navigate uncharted territory, at a time when even the world of institutional finance has turned its attention to cryptocurrencies. Above all, the opinion of Ray Dalio, founder of the hedge fund Bridgewater Association, who in recent days in a long Ask Me Anything on Reddit commented: “Bitcoin could represent a diversification asset compared to gold and other similar assets.” This is quite a significant change of opinion, when only a few weeks ago Dalio himself expressed, in a Tweetstorm, some perplexity towards Bitcoin.
