Thursday, April 15, 2021

Bitcoin (BTC) Reaches Price Milestone after Three Years of Waiting

After three years of waiting, Bitcoin (BTC), the largest cryptocurrency by market cap, has finally reached its price milestone. The last all-time high was attained in December 2017.

Bitcoin (BTC) Breaks Its Price All-Time High Record

The long years of waiting for Bitcoin (BTC) to record a new all-time high finally ended a few hours ago after the leading digital currency managed to break above its previous milestone recorded in December 2017.

Read Also: Fidelity President Files for a New Fund Dedicated To Bitcoin

According to Bitstamp, BTC attained $19,660 a few hours ago.

Bitcoin (BTC) Reaches Price Milestone after Three Years of Waiting
Courtesy of Bitstamp

The last three years were filled with different price movements and shockers. Bitcoin underwent a prolonged bear market in 2018. This unfavorable trend made many experts declared Bitcoin (BTC) dead on several occasions.

Notably, this bear market brought altcoins down to the shadow of their former price highs. Most of the altcoins in existence back then lost about 90% and more of their dollar values.

Read Also: Bitcoin Advocate and Founder of Blockware Solutions, Mathew D’Souza Dies At 29

In 2019, the price trend of digital assets, especially Bitcoin, raised the hope of many traders and investors in the cryptocurrency ecosystem. This positive trend took the price of Bitcoin closer to breaking above $14,000 in June. But this ended in another disappointing price dip.

The bear market continued until Bitcoin bottomed around $3,800 in March 2020, following the outbreak of Covid-19. However, the leading digital token has not relented from surging since the bottom was reached in March.

Institutional Interest Helped Bitcoin in a Coronavirus Ravaged Year

2020 is a historic year, due to the negative impact which Covid-19 has on every aspect of human activities around the world.

Despite the fact that the year has been obviously ravaged by the pandemic, which also briefly affected Bitcoin (BTC), the institutional adoption has made it a glorious year for the digital currency.

Read Also: David Schwartz Highlights Obstacles Facing XRP As Price Lags Behind Bitcoin (BTC)

Although 2020 is not yet over, Bitcoin is currently charting massive increases, especially if we take the yearly lows as a reference point. Up more than 400% since the Coronavirus-induced crash in March, the crypto asset shows no signs of slowing down.

Considering the interest of large and institutional investors such as Grayscale, Guggenheim Fund, PayPal, among others, this current uptrend may not end like the retail-induced rally of 2017.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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