{"id":131694,"date":"2020-12-17T03:41:33","date_gmt":"2020-12-16T22:11:33","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=131694"},"modified":"2020-12-17T03:52:13","modified_gmt":"2020-12-16T22:22:13","slug":"bitcoin-surges-past-21000-hours-after-20k-breach","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitcoin-surges-past-21000-hours-after-20k-breach\/","title":{"rendered":"Bitcoin surges past $21,000, hours after $20k-breach"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">It looks like there\u2019s no stopping Bitcoin, at least not today, after the world\u2019s largest cryptocurrency breached the $21,000-mark within hours of breaching the $20,000-mark. At the time of writing, BTC was trading at a price of $21,274, having gained by 9.18% in the last 12 hours.<\/span><\/p>\n<figure id=\"attachment_131716\" aria-describedby=\"caption-attachment-131716\" style=\"width: 1805px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2020\/12\/BTCAASA.png\"><img decoding=\"async\" class=\"wp-image-131716 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2020\/12\/BTCAASA.png\" alt=\"\" width=\"1805\" height=\"856\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2020\/12\/BTCAASA.png 1805w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2020\/12\/BTCAASA-300x142.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2020\/12\/BTCAASA-1024x486.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2020\/12\/BTCAASA-768x364.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2020\/12\/BTCAASA-1536x728.png 1536w\" sizes=\"(max-width: 1805px) 100vw, 1805px\" \/><\/a><figcaption id=\"caption-attachment-131716\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTC\/USD<\/a> on TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The aforementioned developments came on the back of Bitcoin trading within the $19,000-range for a long time. With the cryptocurrency now priced at levels never seen before, many in the market expect Bitcoin to go parabolic and trade at a much higher price range in the next year or two.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The rally, which seems to remind Bitcoin holders of the 2017 bull run, has been a long time coming. However, unlike its previous bull runs, Bitcoin&#8217;s present rally hasn&#8217;t been identified with volatility a lot since the same hasn&#8217;t been significant. In fact, most expect Bitcoin&#8217;s new support level to be well within the $19,000-range.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In an email shared with AMBCrypto, a few of the market&#8217;s noted entrepreneurs addressed how bullish Bitcoin is at the moment. Alex Mashinsky, CEO of Celsius Network, commented,\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;I do think we will also re-test the $14-16k levels either over a weekend with low volume or with bad news hitting the street. That will probably be the last time most of us will have a chance to buy Bitcoin below $20k levels ever again.&#8221;<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Catherine Coley, CEO of Binance.US added,<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;When the Fed and other governing agencies across the world are seemingly OK with the effects of inflation on fiat currencies, we\u2019ll continue to see the diversification thesis into BTC surge, with price breaking through key technical levels.&#8221;<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Other experts attribute the rally to the many corporate investments in BTC this year. <\/span><span style=\"font-weight: 400;\">Recently, UK-based investment firm Ruffer <\/span><a href=\"http:\/\/ambcrypto.com\/uk-based-ruffer-investment-allocates-2-5-of-portfolio-to-bitcoin\/\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> that it has allocated approximately 2.5% of its multi-strategies fund to Bitcoin. <\/span><span style=\"font-weight: 400;\">On the other hand, Square\u2019s Cash App and PayPal have reportedly been <\/span><a href=\"https:\/\/panteracapital.medium.com\/bitcoin-shortage-172a9205dc0\"><span style=\"font-weight: 400;\">buying<\/span><\/a><span style=\"font-weight: 400;\"> more than 100% of all newly minted Bitcoins.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even Grayscale recently revealed that it had surpassed $13 billion in AUM and that the Grayscale team had <a href=\"https:\/\/twitter.com\/Sonnenshein\/status\/1327226251094978561?s=20\">raked<\/a> in over $115 million in Bitcoin alone. Moreover, according to William Noble, Chief Technical Analyst at Token Metrics,<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;All institutional buyers are not price sensitive anymore. They have to buy it before the year ends. If not, they will be seen as out of touch.&#8221;<\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>It looks like there\u2019s no stopping Bitcoin, at least not today, after the world\u2019s largest cryptocurrency breached the $21,000-mark within hours of breaching the $20,000-mark. At the time of writing, BTC was trading at a price of $21,274, having gained by 9.18% in the last 12 hours. The aforementioned developments came on the back of<a href=\"https:\/\/ambcrypto.com\/bitcoin-surges-past-21000-hours-after-20k-breach\/\">Continue reading <span class=\"sr-only\">&#8220;Bitcoin surges past $21,000, hours after $20k-breach&#8221;<\/span><\/a><\/p>\n","protected":false},"author":34,"featured_media":131695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,3,4,20],"tags":[],"class_list":["post-131694","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin surges past $21,000, hours after $20k-breach - AMBCrypto<\/title>\n<meta name=\"description\" content=\"The aforementioned developments came on the back of Bitcoin trading within the $19,000-range for a long time. 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