Whether you are a Bitcoiner, investor, enthusiast, user or just curious about Bitcoin, this day will go down in history as one of the most important for this cryptocurrency, and for the entire digital market, as Bitcoin has just broken new all-time highs.
Bitcoin (BTC), known as the queen of the cryptocurrencies, in the digital markets, has just lived up to its name again by marking new historical highs in its history, and in the entire history of cryptocurrencies. This December 16, just one day after completing 3 years since its maximum in December 2017, the cryptocurrency once again marks a milestone, reaching a value of $22.147 USD per unit. And not only that, Bitcoin's capitalization also reached new highs, with a value of 405,6 one billion dollars at the time of this publication.
With these new values, the cryptocurrency once again positions itself as the largest bank in the world by capitalization, surpassing the giants JPMorgan, ICBC (Industrial and Commercial Bank of China) and Bank of America.
Source: Companies Market Cap
Bitcoin's path to surpassing its all-time high in 2020 has been full of ups and downs, although several analysts consider that market volatility this year has been much lower compared to previous years, and even lower than the 34% of the shares listed on S & P 500. Likewise, analysts attribute the continued bullish movement that Bitcoin has maintained in the last quarter of this year to the large influx of institutional investors who are showing confidence in Bitcoin by moving their cash reserves into the cryptocurrency. Traders suggest that the entry of institutional players into the digital industry will be decisive and favorable for Bitcoin to reach new highs, which could even reach a value of $50.000 USD by the end of 2021.
However, it is important to remember that all bets on the price of Bitcoin are uncertain, and no one can accurately predict what the next value of the cryptocurrency will be in the days to come.
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Bitcoin on the rise, and other cryptocurrencies follow suit
The rise of Bitcoin on December 16 also has positive repercussions on many of the cryptocurrencies listed on digital markets. For example, the Ether (ETH), the cryptocurrency of Ethereum, just hit a value of $642 USD at the time of this writing, although it hit a 24-hour high of $648 USD, according to data from CoinGecko. Despite this rise, ETH is still far from reaching its 2018 all-time high.
Likewise, another cryptocurrency that is on the rise is XRP (Ripple), with a growth of almost 28% in the last 24 hours. XRP went from a value close to $0,4 USD to more than $0,56 USD. Meanwhile, the total cryptocurrency market cap is also hitting new highs, totaling $625.081.985.598 USD ($625,1 billion) at the time of writing.
Bitcoin, to date, has become a global trend on Twitter, with millions of tweets with the # Bitcoin worldwide.
New opportunities for investors in Bitcoin and Ethereum
La Chicago Mercantile Exchange (CME) has also just announced that it will launch Ethereum-based futures for this 2021, something that undoubtedly opens up the potential of the second largest cryptocurrency on the market to new investors. According to the release According to the CME, ETH futures will expand the robust offering of cryptocurrency derivatives that CME Group offers to institutional investors and traders, alongside the Bitcoin futures offering that the Exchange has managed since 2017.
Tim McCourt, global head of CME Group, noted that the introduction of an ETH futures offering will provide its clients and investors with a valuable tool to trade and hedge the growing demand for this cryptocurrency, and also noted that ETH has great potential as an investment asset, being the second largest cryptocurrency on the market, both by market capitalization and daily volume.
Interest in cryptocurrencies from institutional and qualified investors continues to grow, and stock exchanges around the world are integrating new derivative products to meet this demand. Meanwhile, this outlet reported that cryptocurrency trading company OSL has received a crypto license from Hong Kong’s regulatory authority, the SFC, so in the near future we may see more institutional players entering the growing digital industry.
Continue reading: Hong Kong regulator grants crypto license to OSL platform
