A lot has happened today in the crypto market and we bring you a summary of the most important. Bitcoin? What happened? You can’t miss it!
The price of Bitcoin (BTC) has slightly exceeded $23,000 today, and despite a crypto correction of about 1K, its future still seems to be shining on its own. We’ll tell you everything that happened today!
Bitcoin isn’t afraid to keep breaking highs in 2020
Just yesterday Bitcoin set a new all-time high with much elegance by exceeding USD 20,000. Today it reached USD 22,000 and easily surprised the crypto market by exceeding USD 23,000.
To be more precise, the leading crypto set a high of $23,544, according to CoinMarketCap. However, in some crypto exchanges like Binance, Bitcoin was even traded for $23,800.
However, BTC crypto took a step back and, at this moment, its price is USD 22,657. So, what should we expect now? Will it break another high tomorrow?
According to PlanB, Bitcoin is following the predictions of its price model to the letter. And so, based on that, BTC could be in a crypto price range of USD 100,000 and USD 576,000 by 2024.
And, actually, he is not the only one who supports the idea. According to an interview with Scott Minerd, Chief Investment Officer at Guggenheim Partners für Binbot, the fair price of BTCC is “around $400,000.
Also, Willy Woo, a well-known chain analyst, said that a target level of $100,000 is “ridiculously low” for the leading crypto.
“100K is a ridiculously low target on the current trajectory. 55K is the next milestone, Bitcoin becomes a 1T macro group,” Woo said on Twitter.
And finally, Nigel Green, founder and CEO of deVere Group, said the parabolic rally of the leading crypto is just beginning. In fact, he proclaimed that 2021 will be another “record year,” with price increases of 50% or even “could double.
Bitcoin’s Crypto Millionaires Rise Like Foam
Glassnode reported that today’s price increase for BTC led to a record number of wallets worth more than $1 million.
Specifically, more than 66,540 addresses now contain $1 million in Bitcoin, a 150% increase from yesterday. No doubt crypto investors have had a great day.
“All you had to do to be a millionaire today is extract a single block of #Bitcoin between 2009 and 2012,” said Glassnode CTO Rafael Schultze-Kraft in a tweet this morning.
Crypto exchange Coinbase to be officially released
Coinbase took advantage of the crypto excitement in the marketplace and announced that it has submitted its documentation required to officially make the crypto exchange public.
The announcement was made via Twitter where a blog post was attached and it was assured that, confidentially, they submitted “a draft Form S-1 registration statement with the Securities and Exchange Commission.
All that is needed is approval from the relevant regulators and Coinbase will be officially public.
Bitcoin Crypto Skeptics
Certainly the emotion of the bulls leaves the bears without effect, however, that does not mean that they are not present.
As you’d expect, as Bitcoin continues its bullish run, skeptics and critics come out to offer their opinions.
But just on Dec. 8, Forbes interviewed renowned billionaire Mark Cuban, who said that crypto users should abandon the idea of Bitcoin as “a protection against end-of-the-world scenarios.
In fact, he claimed that commodities such as bananas offered more benefits than Bitcoin.
“A banana has more utility, potassium is a valuable nutrient for all people on the planet, but as long as people accept BTC as a digital version of gold, it can be invested,” he said.
Claude Erb, well-known author of “The Golden Dilemma,” published a report titled “Bitcoin is exactly like gold, except when it’s not,” where he assured that the price of the leading crypto is 50% above its fair price.
Also, economist David Rosenberg assured Bloomberg that Bitcoin formed a bubble and investors don’t understand how its supply works.
“Everyone seems to think we’re going to reach that $21 million limit on supply restriction, but there’s really nothing in the protocol that suggests that Bitcoin’s supply can’t increase once we reach that limit,” the economist said.
Yes, he emphasized that crypto investors “think they know,” but they don’t really know the Bitcoin supply curve.
In a few lines…
- A Binance operator called BatThursdayBurn, earned a little over $2.6 million in the last 24 hours, according to the crypto exchange leaderboard.
- MGA Entertainment’s Bratz doll franchise has partnered with Animoca Brands to use the Blockchain and there will be NFT collectibles.
- The amount of ETH in Ethereum 2.0 has a valuation of around USD 1 billion, according to Dune Analytics.