Earlier this month, when I was thinking about the chance to see Bitcoin reach US$20,000 before December's arrival, I was almost sure that isn't a realistic expectation. After all, this March it went all the way below US$5,000 and it struggled around US$10,000 for most of the year. However, Bitcoin has managed to break through the US$18,000 barrier earlier today.
Right now, Bitcoin's updated value says US$18,059.61, but the peak that was reached this morning sits at US$18,453.87. Just one day ago, the world's most popular cryptocurrency was trading for slightly less than US$17,000. Many analysts believe that the ongoing pandemic and the economic crisis it generated have managed to change the investor outlook and this spells good news for other digital currencies as well. In recent months, cryptocurrencies such as Ethereum, Litecoin, and XRP went through noticeable trips uphill.
Another thing that is interesting to note now is that gold is not following the trend. The precious metal has dropped from its all-time high of US$2,072 per ounce, reached in August, to less than US$1,900. On the other hand, Bitcoin owes much of its recent growth to PayPal's support. The digital payments service has recently revealed that its network would soon open up to Bitcoin and other cryptocurrencies.
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Codrut Nistor - Senior Tech Writer
- 6683 articles published on Notebookcheck since 2013
In my early school days, I hated writing and having to make up stories. A decade later, I started to enjoy it. Since then, I published a few offline articles and then I moved to the online space, where I contributed to major websites that are still present online as of 2021 such as Softpedia, Brothersoft, Download3000, but I also wrote for multiple blogs that have disappeared over the years. I've been riding with the Notebookcheck crew since 2013 and I am not planning to leave it anytime soon. In love with good mechanical keyboards, vinyl and tape sound, but also smartphones, streaming services, and digital art.
