Bitcoin broke through $21,000, setting a new record

Shi Xingao! The price of Bitcoin exceeded $21,000 for the first time.

At around 23:20 on the 16th, data from the Bitcoin trading platform Bitstamp showed that the price of Bitcoin trading rose to around US$20,670, an intraday increase of 6.51%, the first time since 2017.

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Today, Beijing time, the price of Bitcoin broke through the US$21,000 mark for the first time, setting a record high.

With more than 460,000 topics, the “opened” bitcoins successfully made it into the forefront of Weibo search and became the focus of public attention.

Prior to this, the highest price of Bitcoin was $18,801 set on December 16, 2017. The rise of Bitcoin this year has aroused market attention. Since March hitting a new low of $3783 for the year, the current price of Bitcoin has skyrocketed by more than 450%.

According to Bitstamp data, the cumulative increase of Bitcoin has exceeded 210% year-to-date.

The analysis pointed out that the impact of the epidemic and the huge increase in demand for hedging under the “release” of global monetary policy is an important driver of Bitcoin’s recent surge.
However, while Bitcoin continues to rise and set historical records, gold seems to “fall out of favor”-funds are flowing out of the gold market. World Gold Council data show that in November, global gold ETF holdings fell for the first time in a year, and it was the second highest monthly net outflow in history. At the same time, the price of gold fell during the month, marking its worst monthly performance in four years.

The industry believes that the hot market for digital assets led by Bitcoin has diverted the market’s enthusiasm for gold trading.

However, Bitcoin trading also has its risks. Some organizations have reminded that Bitcoin is characterized by extreme price fluctuations. In the history of less than ten years with data, it has experienced multiple surges and then plummets. In addition, bitcoin transactions also have certain regulatory risks.

1 Response

  1. Peyton says:

    The cryptocurrency was trading at just under $21,340 on Bit Stamps’ trading platform late Monday.

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