{"id":178078,"date":"2020-12-18T02:00:07","date_gmt":"2020-12-18T02:00:07","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=178078"},"modified":"2020-12-17T22:43:10","modified_gmt":"2020-12-17T22:43:10","slug":"chinese-state-tv-covers-bitcoin-pushing-20-above-20000","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/chinese-state-tv-covers-bitcoin-pushing-20-above-20000\/","title":{"rendered":"Chinese state TV covers Bitcoin pushing 20% above $20,000"},"content":{"rendered":"<p>Finally, the world's eyes are on Bitcoin.<\/p>\n<p>Over the past 36 hours, the leading cryptocurrency has enjoyed a jaw-dropping rally that has brought it from $19,000 to as high as $23,800 on leading spot and futures exchanges. Bitcoin is primed to move even higher, analysts say, as there exist no technical resistance levels above the current price.<\/p>\n<p>This ongoing rally has seen the world's eyes turn to Bitcoin and cryptocurrency.<\/p>\n<p>Mainstream media outlets like CNN, Fox Business, and more are covering this rally. It reached a point where yesterday, <em>instead<\/em> of covering live comments from Federal Reserve chair's Jerome Powell, Bloomberg discussed BTC with one of the world's leading asset managers.<\/p>\n<p>Even Chinese state media have covered this rally.<\/p>\n<h2>Chinese state media cover Bitcoin rally<\/h2>\n<p>As pointed out by &#8220;Molly,&#8221; a Chinese crypto insider, Chinese state television CCTV recently covered the Bitcoin rally in a short segment aired last night. The CCTV is a state-run media channel that is televised to hundreds of millions around China.<\/p>\n<p>The headline of this segment highlighted Bitcoin's new all-time high and its remarkable performance of 500 percent since the March 12th and 13th lows of $3,500.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Chinese National Tv channel CCTV :\u201dbitcoin price hits historical high ,rises 450% since the March 12 \u201c <a href=\"https:\/\/t.co\/p1k111Ulsp\">pic.twitter.com\/p1k111Ulsp<\/a><\/p>\n<p>&mdash; Molly (@bigmagicdao) <a href=\"https:\/\/twitter.com\/bigmagicdao\/status\/1339432380885422080?ref_src=twsrc%5Etfw\">December 17, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CCTV appears to be attributing this rally to the recent influx of Wall Street players into the crypto-asset space.<\/p>\n<p>Just yesterday, a British investment firm confirmed to CoinDesk that it has nearly $800 million worth of Bitcoin on its balance sheets as it looks to hedge its portfolio against a decline in the U.S. dollar and a loss of bond yields.<\/p>\n<p>Prior to this, prominent Wall Street funds have announced their intent to buy Bitcoin as they also look to create a hedge position against these unprecedented macroeconomic times.<\/p>\n<h2>Trending on Twitter<\/h2>\n<p>In the West, Bitcoin trended on Twitter in Canada, the U.K., and some parts of the U.S. At some points, there were over 150,000 tweets about the leading cryptocurrency published in a 24-hour period, which is far above the normal.<\/p>\n<p>Much of this engagement involved industry proponents and those watching Bitcoin expressing their excitement or confusion about the new all-time high.<\/p>\n<p>Bloomberg's segment with Scott Minerd, too, went somewhat viral as the Wall Street money manager was quoted as saying that BTC could hit $400,000 in the years ahead.<\/p>\n<p>What's interesting is that aside from Twitter, there isn't much attention on Bitcoin.<\/p>\n<p>Google Trends shows that the United States' overall interest in the search term &#8220;Bitcoin&#8221; is still less than 25 percent the 2017\/2018 highs seen at the previous $20,000 all-time high.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-178087\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/12\/GoogleTrends-1024x357.jpg\" alt=\"\" width=\"1024\" height=\"357\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/12\/GoogleTrends-1024x357.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/12\/GoogleTrends-300x105.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/12\/GoogleTrends-768x268.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/12\/GoogleTrends.jpg 1171w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finally, the world&#8217;s eyes are on Bitcoin. Over the past 36 hours, the leading cryptocurrency has enjoyed a jaw-dropping rally that has brought it from $19,000 to as high as $23,800 on leading spot and futures exchanges. Bitcoin is primed to move even higher, analysts say, as there exist no technical resistance levels above the [&hellip;]<\/p>\n","protected":false},"author":170,"featured_media":176259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,107],"tags":[60786],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chinese state TV covers Bitcoin pushing 20% above $20,000<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/chinese-state-tv-covers-bitcoin-pushing-20-above-20000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese state TV covers Bitcoin pushing 20% above $20,000\" \/>\n<meta property=\"og:description\" content=\"Finally, the world&#039;s eyes are on Bitcoin. Over the past 36 hours, the leading cryptocurrency has enjoyed a jaw-dropping rally that has brought it from $19,000 to as high as $23,800 on leading spot and futures exchanges. Bitcoin is primed to move even higher, analysts say, as there exist no technical resistance levels above the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/chinese-state-tv-covers-bitcoin-pushing-20-above-20000\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-18T02:00:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-12-17T22:43:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/11\/bitcoin-china-tv.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nick Chong\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nick Chong\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/chinese-state-tv-covers-bitcoin-pushing-20-above-20000\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/chinese-state-tv-covers-bitcoin-pushing-20-above-20000\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/nick-chong\/#person\",\"name\":\"Nick Chong\",\"url\":\"https:\/\/cryptoslate.com\/author\/nick-chong\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/nick-chong\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/nick-chong\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/nick-chong-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/nick-chong-author-300x300.jpg\",\"caption\":\"Nick Chong\"},\"jobTitle\":\"Analyst\",\"description\":\"A decentralist at heart, Nick has shown interest in Bitcoin and cryptocurrencies since 2013. 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