The price of Bitcoin (BTC) has just passed the $15,000 mark, a first since January 2018. Is the queen of the cryptomoney industry about to repeat the feat of reaching $20,000? Engaged in a bull run, nothing seems to be able to stop Bitcoin’s progress.
Bitcoin (BTC) breaks through the $15,000 mark
How far will it go? Bitcoin (BTC) impresses, as always. It has just passed the $15,000 mark again today, a threshold it hadn’t seen since January 2018, nearly three years earlier.
Over the last 24 hours, a bullish momentum has taken hold of Bitcoin, causing its price to rise by nearly 8%. Over the last 30 days, its progression has been just as dazzling, with Bitcoin having climbed by nearly 43%.
This movement crowns an already busy day for Bitcoin, which was trading below $14,000 only 24 hours ago.
If we look at its performance since the crash of mid-March 2020, Bitcoin is a real spectacle. Since it hit $3,800 on Black Thursday, the day of the generalized fall of the financial markets, those who bought at that time have theoretically offered themselves a return of +305%:
At the time of writing, Bitcoin Trader is trading around $15,200, and the volumes of its spot markets over the last 24 hours have reached $4.6 billion according to Messari data.
On the futures side of the Bitcoin market, the effect of its bull run is even more pronounced. The platforms together account for nearly $33 billion in volume for Bitcoin. Binance leads with 9.66 billion dollars, followed by Huobi with 6.76 billion dollars:
Volumes des contrats à terme sur Bitcoin ces dernières 24 heures – Source : Skew
At the same time, Bitcoin is now setting another record. Bitcoin has been trading above the $10,000 mark for 100 consecutive days. The previous record was 62 days, set between December 2017 and January 2018.
An increase that does not only make people happy
Unfortunately for some, this break in the $15,000 does not bode well. Across all platforms, many traders who have bet on Bitcoin’s decline are biting their fingers.
Notably on the BitMEX exchange, where $54 million in short orders have been liquid in recent hours :
Liquidations sur BitMEX ces 14 derniers jours – Source : Skew
And what about the altcoins? Even if for the last few hours the altcoins have been on the rise again, it should not be forgotten that they had been in constant fall for the last few days, recovering for the majority of the supports of long date.
At the moment, the situation differs of course from the „alt season“ of 2017, a period during which most of the altcoins followed the upward trend of the Bitcoin.
But the situation also differs on another point. What if the current bull run allowed Bitcoin to reach levels that it has never known before? Yes, the $20,000 of 2017 is not the $20,000 of 2020 (or 2021).
In 3 years, Bitcoin has matured considerably, especially with institutional investors. Now, none of them can ignore the importance of Bitcoin in the financial landscape, it has even made a place for itself in the treasury of large American companies.
Everything now looks promising for the future. Let’s go for the $20,000! 🚀 #HODL