Bitcoin closed above US$20,000 for the first time as a new flood of money and interest fuels a powerful rally for cryptocurrencies. Bitcoin has advanced more than 70% in December alone.
Bitcoin surged past $19,900 on Wednesday, its highest level since November 2018. It’s now up 70% in December alone and more than 1,300% in 2018. And easily making it the best performing major asset of the year.
In 2019, Buy Bitcoin more than 1,000%. By 2020 it could be worth more than 3,000%, according to some calculations though many analysts believe such figures are overstated.
The digital currency has also been one of the most volatile assets over recent years: Its price fell sharply but recovered quickly during intense volatility across global markets late last year that threatened to drag down financial systems worldwide.
Bitcoin has advanced more than 70% in December alone.
Bitcoin (BTC) has advanced more than 70% in December alone.
The cryptocurrency has risen 2,000% since the start of the year and more than 10,000% since the start of 2017. It’s up nearly 100,000% since 2010. The bitcoin price rose above $20,000 for the first time on Thursday before retreating slightly from that level over the weekend and falling below $17,000 by Monday morning as investors weighed news that regulators were investigating at least one cryptocurrency exchange.
Ether rose as much as 13% to US$605, notching a record high, while XRP (XRP) advanced 8.9% to 69 cents. Ethereum, a blockchain platform designed to run smart contracts, has been rising in value. The cryptocurrency Ether has surged 55% this week and reached record highs.
Ethereum is a cryptocurrency that you can buy, sell and trade online. The digital tokens are also used on the Ethereum network to pay for transaction fees and services on decentralized applications built on top of the network.
The most well-known application built with Ethereum is CryptoKitties. A virtual game where users breed digital cats by buying them from another user or breeding their cats to produce new ones with unique characteristics and attributes.
Binance Coin (BNB) was the biggest gainer among the top 10 cryptocurrencies, rising as much as 34% to US$47.02.
Binance issues the cryptocurrency, a cryptocurrency exchange that provides a platform for trading fiat-to-crypto and crypto-to-crypto pairs in China, Korea, Japan, and other countries across Asia. The token is used on Binance’s platform to pay fees when trading cryptocurrencies or to add funds to your account balance.
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Dogecoin (DOGE) jumped 23% to a fresh high of 28 cents.
The cryptocurrency started as a “joke currency” on December 8th, 2013, but has since become more widely accepted and now ranks as the 26th most valuable cryptocurrency by market capitalization.
Dogecoin’s market cap is now just over $2bn. The price of bitcoin is over US$20k. Other cryptocurrencies are surging too. You may have seen the news that bitcoin is over US$20k, and it’s not just bitcoin that’s surging. Ether, litecoin, and dogecoin have all climbed more than 10% in the last 24 hours.
The price of ether had increased 70% since December 1st, 2017, when it was trading at around US$700 per ETH coin.
Each ether token was worth $1,181. It increased over 2200% from its lowest point in 2015 when it sat at just $0.85 per ETH coin. If you had invested in the ether before 2014, you would have made an incredible 4500% return.
Final Words
These are exciting times. Cryptocurrencies and blockchain technology are just starting, and we’re excited to see what’s next. BTC closed at US$20,000 while ETH and DOGE surged to new all-time highs. If you’re interested in investing in cryptocurrencies, it’s important to do your research and understand the risks involved.
You should invest in bitcoin trading software. It is the best way to lower the risk. Cryptocurrencies are volatile and can be subject to large swings in price, but their growing popularity suggests that they may have some real value.
