Bitcoin exchange rate exceeded $ 19,000 for the first time since December 2017
The price of bitcoin overcame the psychologically significant level of $ 19,000, taking another step to historic highs slightly below $ 20,000. At the time of publication, the first cryptocurrency is trading at about $ 19,100, adding 3.7% per day.
Guy Hirsch, Managing Director of the eToro US Platform, is confident that the 2020 bull market is debunking the idea that bitcoin could be the new tulip mania, as “tulips didn’t have the second wave of buying that bitcoin is going through.”.
“The price is likely to continue to rise,” CryptoQuant previously wrote, citing the increased institutional participation in the bitcoin market and the slowness of miners to liquidate their assets..
Along with the exchange rate, trading volumes also grow. Last week, bitcoin broke the $ 18,000 mark with volumes of about $ 20-30 billion, and today they amount to more than $ 50 billion. As noted by The Block analyst Larry Chermak, Binance trading volumes have exceeded all previous highs.
“Retail investors have not yet fully entered the market, unlike institutional investors, so the current situation is more like 2016 than 2017. We will definitely see a break above $ 20,000 soon to set a new all-time high by Christmas. When bitcoin becomes widespread among more retail investors and established companies, it will be difficult to say how high its rate will rise, “said Corey Hoang, CEO of Stably..
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