2020—What a year it has been! Can’t emphasize enough on how graceful December 2017 and December 2020 have been. In both years, Bitcoin price strengthened from the rock bottoms to its first ATH in 2017 and yet again crossing above the first to reclaim a new in 2020.
In this regard, we cannot forget the newest height that Bitcoin, the largest cryptocurrency by market capitalization, hit just yesterday, i.e., above $28k, while current trades with a slight pullback at $26.8k. As per the Bitcoin price prediction and technical analysis, this year, Bitcoin has marked a tremendous momentum and spurred from $3.6k to $28.3k in less than a year, which shows a clear strengthening of over 650%. None of the stocks or assets like Bonds, ETFs, Gold, or Silver would have fetched returns that BTC alone is luring at the moment.
Back in 2017, many people were introduced to Bitcoin due to the skyrocketing price that it had hit, whereas this year, its massive adoption and knowledge led to creating the right amount of market forces to create the demand and led the price in the bullish direction. But crypto with limited supply will never be enough to people if it grows within a limited range. This month the breakthrough was Bitcoin breaching above $20k, and second, it was above $25k straight to $28k and above.
However, a spike or a fresh All-Time High will never be enough for Bitcoin lovers and loyalists until they gaze at a $100k figure for this power in the name of the largest cryptocurrency. With the current height, there have been thousands of controversies and assumptions that surround the price of Bitcoin lately, right after it has breached above $20k, followed by $25k and $28k.
There has been a sudden gush of traction right after it crossed $23k on December 23, 2020, and it kept reinforcing over the past five days. Today, this strong is Bitcoin that the early investors of Bitcoin would be freed of all the debts and the hassles of financial institutions and would be ultimately richer by doing nothing but investing and holding back their investments.