The bitcoin price reached a new all-time high on December 16 and continued to rise on the night of December 17. Bitcoin crossed the $23,000 mark. There is currently no upper limit for the price of bitcoin and many are asking the question: how high can the price of the first cryptocurrency go up in 2021?
Bitcoin price moves from one all-time high to another. The new maximum was set at $23,800. This is a colossal rise in price in a short time when we consider that last week the price of bitcoin was around the $17,600 mark. The growth of the bitcoin rate was 20 percent in the last 24 hours and more than 30 percent for a month.
James BUTTERFILL, investment strategist at CoinShares said:
«Volumes last week were 70% above the year daily average suggesting greater participation in this rally than has historically been the case. It is worth taking note that investors are beginning to see bitcoin as a viable gold alternative.»