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Everyone was waiting for the Bitcoin price to blow past $20,000 on all crypto changes in order to establish an undisputed new all-time high (ATH) price. Well, today, Bitcoin finally did it — and in style!
On November 30, on several crypto exchanges, the Bitcoin price did get tantalisingly close to the psychologically important $20,000 level (and it may have even just barely surpassed it on a couple of exchanges) . However, the consensus in the crypto community back seemed to be that it is not a new ATH until the Bitcoin price easily breaks this level at all centralized crypto exchanges.
This sentiment was perhaps best expressed by Sam Bankman-Fried, the CEO of crypto derivatives exchange FTX, who said:
In case anyone is wondering, in my book it's not really a BTC ATH if the first digit is a '1'
— SBF (@SBF_Alameda) November 30, 2020
Since then, Bitcoin had — until today — been mostly trading sideways in the range $18,000 to $19,000.
On December 8, Tyler Winklevoss, co-founder and CEO of digital asset exchange Gemini, said that Bitcoin seemed like a “tiger ready to pounce.”
#Bitcoin is looking awfully boring hovering between 18-19k. Feels like a tiger getting ready to pounce
— Tyler Winklevoss (@tyler) December 8, 2020
And just yesterday (December 15), popular crypto analyst and trader Alex Krüger made the following prediction:
— Alex Krüger (@krugermacro) December 15, 2020
Although many crypto influencers had predicted that the Bitcoin would reach reach or surpass $20,000 before the end of this year, the ferocity of Bitcoin price’s surge past the $20K level still managed to surprise more than a few people.
According to data from CryptoCompare, on Wednesday (December 16), between 13:35 UTC and 13:40 UTC, the Bitcoin price broke the $20,000 level, going as high as $20,257. Just 30 minutes later, the Bitcoin price reached $20,771, the highest price it has ever been.
Charles Hayter, Co-Founder and CEO of leading cryptoasset market data provider CryptoCompare, had this to say about the catalysts behind this year’s Bitcoin bull run:
“The corporate investments in Bitcoin from the likes of Square, MicroStrategy, and more recently MassMutual and Ruffer, have caught the attention of the investing world. This growing demand is simply outstripping Bitcoin’s low and fixed supply. I expect more corporations to follow suit in 2021.
“With the macroeconomic backdrop of unprecedented monetary expansion and negative real interest rates spurred on by COVID-19, it is no wonder that investors of all types are looking at hard assets like Bitcoin as an alternative to gold. Unlike the retail-driven bull run in 2017, institutional investors can allocate capital effectively and with considerably lower risk as the markets are more mature, efficient and regulated.”
While Bitcoin is trading at a new all-time, high several companies still offer small amounts to users so they can test the flagship cryptocurrency before diving in. Cryptocurrency exchange OKEx, for example, rewards users with small amounts of BTC for learning about crypto and its own platform.
Offering free BTC has long been a way for the cryptocurrency space to attract new users, through so-called faucets. Some of the early faucets were created when bitcoin was essentially worthless, and rewarded users with up to 5 BTC per claim. That amount is nowadays worth over $100,000.
Of course, faucets offering large amounts disappeared as the price of BTC went up. A better way to earn free bitcoin would now be to take advantage of savings programs offered by crypto exchanges like OKEx, or via blockchain startups, such as BlockFi, that help users earn interest in BTC on their Bitcoin holdings.
+THE ART OF MAKING MONEY
In life of business, money does not fall from heaven.
Man has to work for it.
Use your skill or talent to fill needs.
That is find a gap and fill it.
A bird asked a bee "You work so hard to make honey but people steal it all. Don't you feel sad?"
The bee replied, "No, they might have a way of stealing my honey but will never steal the Art of making it!"
People may despise you, discourage or steal your ideas but they will never separate you from the source of your blessings.
Your source is your dedication and commitment to your source of income.
As an online entrepreneur/motivator, I encourage you not to allow any barrier to separate or steal your art of making money.
