On the evening of 16 December, bitcoin was above the $ 20,000 mark for the first time since its birth in 2009.
On December 17, the bitcoin price rose again, first breaking through the $ 21,000 mark, and then breaking through the $ 21800 mark. As of press time, it was recorded at $ 21,673 per coin.
Breaking through $ 21,000 for the first time to see history
Regarding the recent price rise of bitcoin, the US CNBC website stated on 16 that the reason is greater interest in Wall Street digital assets. Against the backdrop of low global interest rates, bitcoin has attracted professional investors. Many institutions are expected to use bitcoin.
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The agency reported that in 2017, unlike various ICO projects that attracted investors, more "traditional" financial institutions participated in the bitcoin boom cycle. With the launch of the S&P Greater Jones Cryptocurrency Index, it will provide a further boost. Funds from traditional financial institutions enter the market, and compliance channels will become increasingly abundant.
How does the Bitcoin market go?
The highest price was 18,801 USD on December 16, 2017, before Bitcoin was listed for $ 20,000. Is the bull market falling behind record highs?
Senior crypto trader Peter Brandt said that although bitcoin has risen from $ 4,000 in March to more than $ 20,000 in just 9 months, the rally has not ended yet, and it could rise to $ 100,000 in the current cycle. He suggested that investors increase their bitcoin investment positions from 10% to 20%.
Dalio, the founder of Bridgewater, the world's largest hedge fund, previously stated that in the last decade, bitcoin and other digital currencies have become an alternative to assets such as gold. Bitcoins and gold and other liquid money storage methods with limited supplies have similarities and differences, so they can be used as a diversified investment in gold.
JPMorgan Chase predicts that current institutional investors' focus on bitcoin has just begun, and most risk exposures are still zero. As bitcoin is gaining more and more attention in the mainstream financial market, it can continue to attract capital flows in the medium in the long term.