Breaking: Bitcoin Price Blasts Past $27,000 in Latest Rally
- Date: 28-Dec-2020
- Source: Al Bawaba
- Sector:Financial Markets
- Country:Middle East
Breaking: Bitcoin Price Blasts Past $27,000 in Latest Rally
Published December 27th, 2020 - 07:30 GMT
Highlights
What could be next for Bitcoin?
Bitcoin, the world's most popular cryptocurrency, has hit the $27,000 mark setting new price record.
#Bitcoin hit 24k on the 24th.
25k on the 25th.
26k on the 26th.
27k on the 27th.
... Continue below ⬇ï¸
“” Binance (@binance) December 27, 2020
At press time the leading cryptocurrency is trading very close to $27,600 range.
Source: coinmarketcap.com
According to analysts, the reason behind Bitcoin's price skyrocketing is the high institutional money pouring in the crypto market, as FOMO is driving the raising of demand.
1/ Why Bitcoin may be going through a "Supercycle"
This time is different: COVID, Gold 2.0 narrative, institutional herd, and ease of use have set a new stage.
Instead of a normal bull/bear cycle, Bitcoin would break convention and enter a "Supercycle“
Thread
“” Dan Held (@danheld) December 26, 2020
Many analysts say that this positivity won't stop in the crypto markets, suggesting the price can exceed the $30,000 barrier.
1. $BTC price action looks strong here. Few sellers on