When your name is Bitcoin (BTC), you don’t fear a pandemic that has put the world economy under cover for months, or repeated threats from governments plotting to concoct and pass a “bitcoinicide” law. 2020 was a bit of a stress test passed with flying colors for BTC; global financial markets were infected with coronavirus as Bitcoin ‘allows itself’ – not without a few jerks that delight its detractors – to reach new ATH. It’s the last day of 2020 and the bulls seem to decide to take the $ 30,000 before the stroke of midnight – from what time zone? We won’t know until the beginning of 2021.
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The 30,000 USD at the last second?
Bitcoin climbed above $ 29,200 as of today, December 31, 2020. After remaining above $ 29,000 for a few hours, the BTC bottomed out at $ 28,000. Bitcoin is trading at $ 28,287 at the time of writing.
The annual close is in a few hours, it is difficult to predict at the moment if the BTC 2020 will end above $ 29,000, between $ 28,000 and $ 29,000, below $ 28,000, or even at $ 30,000. Bitcoin opened the year at around $ 9,370.
The year in brief
The BTC momentarily suffered the negative effects of the covid-19 pandemic, with a crash at the level of $ 3,600 in March 2020 during the Black Thursday.
He raised the bar fairly quickly, although the BTC was rather overshadowed by the DeFi explosion in the summer of 2020.
The pandemic has especially dealt a heavy blow to fiats, especially the dollar, whose value is under excessive recourse by the administration Trump at the printing press – no it won’t get better with Biden !
The BTC has fed off this devaluation of the greenback, attracting institutional investors seeking hedges against inflation.
The announcement of PayPal the upcoming launch of its crypto services, a few days after the massive purchase of Bitcoins by Square, was one of the main triggers of the current bull rally.
2020 was greatly marked by the gargantuan appetite for Grayscale and of MicroStrategy, devouring a large part of BTC in circulation.
We’ll take a quick look at the market at midnight (or not) to see if the bulls achieved the feat of the $ 30,000. Your pen tells you “see you next year” for our daily meetings around the daily change in the price of Bitcoin.
Litecoin, welcome in the Silver Age