Bitcoin breaks the $80,000 barrier

With a circulating supply of almost 19.8 million and a maximum supply of 21 million, there is still some room left for Bitcoin miners who are (very) late to the game. However, those who already own some bitcoins have a reason to celebrate, since Clem Chambers was right and the world's most popular cryptocurrency has finally managed to hit $80,000. Earlier today, the all-time high was set at $81,054.70, after an impressive climb of over 15% in the last seven days.

While the pro-crypto stance of President Trump and the fact that he has Elon Musk on his side are certainly strong reasons for the evolution of the crypto market as a whole and Bitcoin in particular, it should also be noted that Bitcoin hit the $69,000 threshold for the first time exactly three years ago. Today, the total market cap has also managed to reach a new all-time high of $1.6 trillion. According to Da Investopedia,

"A successful retest above this level would confirm bullish momentum and signal further potential gains."

Still struggling well below their all-time high values, Shiba Inu, Dogecoin, and Cardano have all managed to grow around 30% since yesterday. For now, most Bitcoin competitors that are featuring smart contracts and decentralized finance fail to live up to the hype, but the near future might still hold surprises in this field. Speaking of surprises, Chambers mentioned in February $120,000 as "quite feasible" for Bitcoin and also considered $250,000 as a possibility for this year, so it remains to see if he was right, at least with the lower value.

Those interested in the crypto world might find Crypto New Rich: From Bitcoin Beginner to Financial Freedom in 5 Years, by Mr Troy Harris, a useful read. The Kindle edition is $19.99 to buy and free with Kindle Unlimited, while those who want the paperback copy must shell out $19.99.

Disclaimer: The information reported here should not be used as a basis for any personal investment decision. Notebookcheck does not offer cryptocurrency, NFT, or other trading, investment, or financial advice.