Bitcoin (BTC) reaches new ATH on several exchanges, exceeding $19,800. This is the case of Gemini, where it reached $19,833. Binance also set the highest record ever, at $19,881.
Bitstamp also reports an ATH:
— Bitstamp (@Bitstamp) November 30, 2020
The event was celebrated by Tyler Winklevoss (Gemini) with a tweet:
— Tyler Winklevoss (@tyler) November 30, 2020
Similar tweet from Binance:
— Binance (@binance) November 30, 2020
Changpeng Zhao also wanted to offer ironic congratulations to those who sold BTC after the collapse of recent days:
— CZ Binance (@cz_binance) November 30, 2020
“Slap yourself for selling bitcoin, ever!”
CoinGecko also updated its historical record: Bitcoin reached $19,799 and then retracted.
Bitcoin, retracement after ATH
Bitcoin is currently retracing and is trading at around $19,500 on the major exchanges.
However, based on data from CoinMarketCap, Bitcoin has now increased by over 7% to a maximum of $19,749.
Today’s climb continued in the wake of the weekend and set aside last Thursday’s crash when Bitcoin sank below $17,000. Some feared a repetition of what happened in December 2017, when Bitcoin hit $20,000 for a few hours, and then plummeted downwards, bursting the speculative bubble.
So far the situation seems different, even though it will only be the next few days and weeks that will determine whether Bitcoin’s rise will be structural or whether 2017 is destined to repeat itself.
What is certain is that many analysts are optimistic, also because Bitcoin has been over $15,000 for a month now, and for over 4 months now it has been permanently over $10,000. In short, the foundations seem more solid.
Furthermore, compared to 2017, the presence of institutional investors supporting demand seems more solid today. The latest in order of time is Guggenheim Partners.
Paolo Ardoino, CTO of Bitfinex, comments on this:
“Bitcoin’s ascent today to a new all-time high of US$19,844 will captivate. Still, of far greater consequence are the fundamentals giving fuel to this rally, notably the increasing presence of institutional investors. Bitcoin is still nascent and even relatively small allocations into the asset class from investment funds can have a seismic impact.”