TL;DR Breakdown:
- Bitcoin crossed the $20,000 level on Thursday, making a new ATH above $22,000.
- Many crypto influencers and industry players reacted to the development, with some predicting a higher price.
The leading digital currency, Bitcoin (BTC), has brought back the excitement for investors as the price broke through $20,000 and soared even further. There’s no doubt that the majority of BTC addresses with a balance are currently in a state of profit. Many prominent crypto influencers have reacted to Bitcoin’s price performance, pointing out how the cryptocurrency didn’t quickly decline drastically, like in the past three years.
Bitcoin makes new ATH above $20,000
Bitcoin surpassed the long-awaited $20,000 on different exchanges yesterday. The development spurred lots of activities on crypto exchanges that led to a brief downtime of two major trading platforms – Binance and Coinbase. Both exchanges noted that downtime was caused by huge traffic. Moving on, the cryptocurrency began a new price discovery, setting another all-time high (ATH) above $22,000.
At the time of writing, the cryptocurrency has shaded a few points to $21,925 on Coinmarketcap. However, Bitcoin is still up by 13 percent on a 24 hours chart, and 18.61 percent on a seven-day chart. Also, the crypto’s market capitalization reached a new high at $407 billion. This strengthens its position as the largest digital currency by market valuation.
Crypto influencers reaction
As Bitcoin topped $20,000, the CEO of Binance, Changpeng Zhao, took to Twitter to explain how Bitcoin has survived since the crash after the ATH three years ago.
“3 years ago today, Bitcoin made its ATH of $19,700, and @Binance became the world’s largest exchange by 24hr trading volume at $11 billion at the same time. Bitcoin “crashed” and “died” many times since. Today, we are still here, with slightly higher numbers.”
One of the founders of Gemini exchange, Cameron Winklevoss, commented:
“Today, Bitcoin got the monkey off its back. It took three long, hard-fought years, but the $20K glass ceiling has been shattered. A turning point for our movement. With the wind at our backs, we continue our work to build a future w/ greater choice, independence, and opportunity.”
Anthony Pompliano (Pomp), believes market capitalization will eventually surpass that of gold. He precisely said that “Bitcoin has crossed a $400 billion market cap for the first time in history. Only 20x away from gold’s market cap…”
Another popular crypto influencer and Bitcoin advocate, Jimmy Song, predicted that the BTC price would go even higher.
“The daily candle just closed +$1900. That’s more than double what #Bitcoin was worth four years ago. Some day, we’re going to see a +$40,000 candle.”
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