Saturday, February 27, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

Bitcoin surges through US$20,000 as fears rise over ‘old money’

1 week ago
in Blockchain
2 min read
Bitcoin surges through US$20,000 as fears rise over ‘old money’
Share on FacebookShare on Twitter


“After being in a wasteland since the infamous bull run of late 2017, crypto, and Bitcoin in particular, are back”

Related articles

Proactive news headlines: Cellular Goods, Argo Blockchain, Corero Network Security,

Proactive news headlines: Cellular Goods, Argo Blockchain, Corero Network Security,

February 27, 2021
Argo Blockchain installs new crypto mining machines

Argo Blockchain installs new crypto mining machines

February 26, 2021

Bitcoin has passed another milestone today as the digital currency rose 6.6% to US$20,630, its highest level ever and the first time it has passed the US$20,000 threshold.

The ascent takes Bitcoin into unchartered territory, particularly as the recent rally has been attributed to institutional investors gradually increasing their exposure to the cryptocurrency in recent months.

This stands in contrast to the last big surge for Bitcoin in 2017, which at the time was fuelled more by speculation and ended in a dramatic crash that it has not recovered from until recently.

Another argument for Bitcoin’s rise is its growing reputation as a haven asset similar to gold as well as a hedge against inflation as central banks engage in massive quantitative easing and asset purchasing programmes to keep their economies afloat during the pandemic.

Ayush Ansal, chief executive of hedge fund, Crimson Black Capital, believes the rise might not be every just yet.

“After being in a wasteland since the infamous bull run of late 2017, crypto, and Bitcoin in particular, are back,” he said.

“Bitcoin has been threatening the symbolic $20,000 barrier for some time and finally it has broken through. Public interest in cryptocurrencies will be reignited over the Christmas period, as people start to believe in Bitcoin all over again. 

“The Covid-19 pandemic has almost certainly contributed to the rebound in Bitcoin. It has changed the order of things and that resonates with many investors right now.

“The resurgence of Bitcoin will once again have Central Banks on red alert. “If they become truly mainstream, Bitcoin and other cryptocurrencies represent an existential threat to the entire banking system.”

Bitcoin’s growing popularity is reflected in its performance among exchange traded funds or ETFs, with research by wealth manager AJ Bell showing that it was by some distance the best theme for investors in 2020.

The XBT Bitcoin Tracker ETF comfortably topped the performance table with a rise of 159%, though Laith Khalaf at the wealth manager warns we have been here before and the last time Bitcoin surged towards a record high, it promptly fell back down to earth with a great big bang.

“In a world where the existing currency system is highly digitalised, it’s hard to see where Bitcoin can score an edge, particularly when its volatility inhibits use in the wider economy for regular payments such as wages and bills.”



Read more:Bitcoin surges through US$20,000 as fears rise over ‘old money’

Tags: Bitcoinbitcoin news todayFearsmoneyRisesurgesUS20000

Related Posts

Proactive news headlines: Cellular Goods, Argo Blockchain, Corero Network Security,

Proactive news headlines: Cellular Goods, Argo Blockchain, Corero Network Security,

by Bitcoin Market
February 27, 2021
0

Consumer cannabinoid products developer 's () shares blazed higher on their first day of trading on the London Stock...

Argo Blockchain installs new crypto mining machines

Argo Blockchain installs new crypto mining machines

by Bitcoin Market
February 26, 2021
0

The company said the 4,500 machines represent the final delivery of Antminers under its lease with Celsius Network and...

Catenae Innovation hope to play key role alongside UK Government in ‘democratising

Catenae Innovation hope to play key role alongside UK Government in ‘democratising

by Bitcoin Market
February 25, 2021
0

's () Guy Meyer speaks to Proactive London's Katie Pilbeam about being invited to participate in the Department of...

Argo Blockchain reports earnings and revenue surge in first half as Bitcoin mining

Argo Blockchain reports earnings and revenue surge in first half as Bitcoin mining

by Bitcoin Market
February 25, 2021
0

The crypto miner said it had mined 1,669 Bitcoin during the period, a 545% increase on the prior year...

Argo Blockchain begins trading on OTCQX market

Argo Blockchain begins trading on OTCQX market

by Bitcoin Market
February 24, 2021
0

The cryptocurrency miner said the OTCQX is the highest tier of the OTC market and represents an "important milestone"...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
Bitcoin has established itself as a macro asset and should be viewed like gold:

Bitcoin has established itself as a macro asset and should be viewed like gold:

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
Bitcoin has established itself as a macro asset and should be viewed like gold:

Bitcoin has established itself as a macro asset and should be viewed like gold:

February 27, 2021
Proactive news headlines: Cellular Goods, Argo Blockchain, Corero Network Security,

Proactive news headlines: Cellular Goods, Argo Blockchain, Corero Network Security,

February 27, 2021
ICE investigators used a private utility database covering millions to pursue

ICE investigators used a private utility database covering millions to pursue

February 27, 2021
Why The9 Limited Stock Got Crushed Today | The Motley Fool

Why The9 Limited Stock Got Crushed Today | The Motley Fool

February 27, 2021
Increasing stock market volatility drags Bitcoin and altcoin prices lower

Increasing stock market volatility drags Bitcoin and altcoin prices lower

February 27, 2021
Market Wrap: Bitcoin Heads for Worst Week Since March as Prices Hold Around $46.5K –

Market Wrap: Bitcoin Heads for Worst Week Since March as Prices Hold Around $46.5K –

February 27, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$47,857.001.64%
  • bitcoin-cashBitcoin Cash(BCH)$497.781.90%
  • binance-coinBinance Coin(BNB)$230.020.365%
  • bitcoin-goldBitcoin Gold(BTG)$26.821.08%
  • bitcoin-privateBitcoin Private(BTCP)$0.405-44.70%
  • blocktixBlocktix(TIX)$0.0200.00%