TL:DR Breakdown:
- Coinbase has recorded a new Bitcoin ATH at over $19,900
- As BTC continues to surge in price, analysts predict that there will be volatility along the line.
On Monday, the leading cryptocurrency Bitcoin (BTC) slightly surged above its previous all-time high (ATH) on several crypto exchanges, setting another milestone record for this year and since it’s history. The crypto’s performance thrilled crypto Twitter, attracting several comments from experts and investors on Bitcoin’s next move. Meanwhile, today, the price of Bitcoin officially surpassed its ATH record on Coinbase, the leading US-based digital currency exchange.
Coinbase see new ATH in Bitcoin
On Coinbase, the digital currency surged by more than seven percent within the past 24hours, bringing Bitcoin price a little above $19,900. The fresh price all-time high is clearly, though slightly, greater than the previous record at $19,891.99, which was observed in December 2017. The development today was highly anticipated, but many Bitcoiners since the cryptocurrency began surging in the price for the past two months.
Bitcoin price is well above 150 percent since the beginning of the year. Its market capitalization surpassed had earlier reached fresh ATH even before on price ATH. Precisely, on November 17, the leading crypto exceeded the previous market capitalization high of $328.89 billion. During the time of writing, the figure is closing towards $370 billion, which represents more than 60 percent of the entire digital currency market capitalization. This further strengthens Bitcoin’s term as the “King Crypto.”
Incoming BTC volatility
Using the stock-to-flow cross-assets model, popular crypto analyst, PlanB, explained that the long-expected bull market is already here. There will also be volatility for Bitcoin’s price ahead. However, the cryptocurrency will still come out with new price highs.
🔴 My fellow bitcoiners, the bull market is upon us. Like clockwork November red dot closed above all other red dots .. at $19,700 .. a new #bitcoin ATH. This is just the beginning. We will see volatility (e.g. -35%), but also new ATH’s. Enjoy the ride!🚀🚀🚀 pic.twitter.com/27fmkCOoEY
— PlanB (@100trillionUSD) December 1, 2020
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