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The price of Bitcoin has gone above $20,000 for the first time ever.
Bitcoin recently hit an all-time high price of $19,783.
Within a month of Bitcoin's December 2017 bull run, BTC's value dropped 50%—might that happen again?
Bitcoin’s price has broken the $20,000 barrier, doing so less than a month after recording a new all-time high of $19,850. Its price just rose up to $20,100 in a sudden surge.
It has been an eventful few months for Bitcoin. After embarking on a bull run starting this September—which saw the cryptocurrency’s price increase from about $10,000 to $19,000—Bitcoin crashed during the US Thanksgiving Day weekend, dropping to the $16,351 mark. On November 30, Bitcoin finally broke its all-time high.
At the time of writing, Bitcoin’s price is $20,000, according to data from Messari. That marks a 3% increase in the last 24 hours, as well as a 28% increase from $16,351, the lowest point of Bitcoin’s recent price correction.
There are multiple reasons for Bitcoin’s recent success, including mainstream investment from institutions like MicroStrategy. But, according to Changpeng Zhao, CEO of Binance, there is more to it than big-name investors.