On Christmas Day Bitcoin breaks price record
On Christmas Day, cryptomaniac enthusiasts received a gift, the Bitcoin shot up 6% and was traded for $24,600, the highest value the digital asset has ever achieved in its history.
In Brazil, the asset is close to R$130,000, and is now traded at the main Bitcoin Trader brokers for R$ 127,601, also a record amount.
Bitcoin R$ 127,000 Christmas
Bitcoin R$ 127 thousand Christmas
Digital currency has been increasing in value since mid-October, after several institutional investors decided to bet on the asset as a store of value. The largest amount was acquired by MicroStrategy and the Grayscale Bitcoin Trust.
The CEO of CoinOne shared on Twitter how Bitcoin has performed over the past 10 years.
Figures show that the price has gradually increased since 2010, with the digital currency trading at just $0.25 on the first Christmas. The following Christmas the currency appreciated 16 times more, from $0.25 to $4. Between Christmas 2012 and 2013, Bitcoin went from $13 to $682.
However, the price fell almost in half between 2013 and 2014: from $ 682 to $ 319. Between 2017 and 2018 Bitcoin showed its biggest fall at Christmas: from $14,026 to $3,815.
Bitcoin price on Christmas days
On this Christmas day in 2020, therefore, Bitcoin has not only valued but achieved its greatest value in history. The high driven by institutional investors remains very strong and does not look like it will end any time soon.
As is common in this kind of scenario, the Bitcoin bullishness has caused the entire cryptomoeda market to appreciate together, with the main altcoins having double-digit highs. The currency with the highest valuation is the Ripple (XRP), which saw hope after the SEC announced a new director for cryptomoins.
In recent hours many altcoins have seen highs above 10 percent: WAVES, OMG, DASH, STX, ADA, LINK, OCEAN, NEXO, XLM and even Dogecoin (DOGE), which reached US$0.0045.
cryptomoedas 25 12 2020
cryptomoedas 25 12 2020
Although Bitcoin is the main cryptomeda in the market, the second most important, Ethereum (ETH) outperformed BTC in 2020 in terms of percentage returns.
The price of Ethereum appreciated more than 350% year-to-date, while Bitcoin gains are around 200%.
Driven by the Defi wave, the Ethereum remains one of the most traded digital assets this year.
In the list of cryptocracks that appreciated most in 2020 the vast majority are DeFi tokens that run on top of the Ethereum platform.
Bitcoin is now trading in a positive and price discovery zone, showing positive signs of a possible boost above $25,000 resistance in the short term.