Week in Crypto: Bitcoin in Unknown Waters after Reaching New HighsDezember 2020
Bitcoin has had a week marked by a big bullish rally. We’ll tell you everything that happened in the crypto week, are you going to miss it?
Once again the week at the crypto market was volatile and very entertaining, especially when it comes to Bitcoin’s price for having the courage to explore unknown waters. Let’s review what happened!
TOP of Crypto Bitcoin News
Bitcoin’s price at the beginning of the week was USD 19,330 and is currently at USD 23,770, according to CoinMarketCap. What happened? We’ll tell you the highlights of the week!
All-time record for Bitcoin: Reached $24,000
The price of Bitcoin in uncharted waters
Without a doubt, the biggest news of the week is related to the price movement of the leading crypto Bitcoin.
As we reported in Crypt Trend, Bitcoin went from breaking its all-time high of $20,000 to venturing into uncharted waters with new levels from $22,000 to $24,000.
Therefore, the leading crypto started a bullish rally that is still going on. In fact, it was yesterday when it registered its last historical maximum when it reached USD 24,122.
Also, as was reported in a timely manner, the crypto leader seems to be following the predictions of the PlanB model to the letter, and therefore, is it possible that it will reach USD 100,000 by 2024?
Bitcoin’s Bull run just started, says Quantum Economics founder
Leading crypto is the topic of conversation
As expected, the fact that Bitcoin is recording new historical highs almost daily and with the courage to face unknown waters generated topics of conversation in the world.
Everyone has something to say about the leading crypto, both positive and negative, and therefore some have joined in while others are declaring it a bubble.
For example, this week Scott Minerd, chief investment officer of Guggenheim Investments, said Bitcoin should be priced at $400,000.
Likewise, Mati Greenspan, founder of the firm Quantum Economics, assured that the bullish rally of the leading crypto is just beginning. Specifically, he believes we could see gains of up to 250% or more.
However, not everyone can be in favor, otherwise it would be boring. Mark Cuba, a well-known billionaire, also believes that crypto leader is more a religion than a solution.
Survey: Bitcoin Value Won’t Reach 50K by 2030
Crypto survey does not favor Bitcoin
This week, the results of a survey conducted by Genesis Mining were revealed, in which the majority of those surveyed believe that Bitcoin will not reach USD 50,000 by 2030.
Specifically, 70% stated that Bitcoin is the best value stock today. However, two-thirds of the respondents don’t consider the price of the leading crypto to rise to 50K.
On the other hand, another interesting conclusion from the survey is that most think that, in 5 to 10 years, leading crypto will replace gold and real estate.
Goldman Sachs believes that Gold and Bitcoin can coexist
Goldman Sachs seeks to calm nerves caused by leading crypto
Precisely in relation to the previous crypto news, Goldman Sachs found it necessary to send a note to its investors where they assure that gold and Bitcoin can coexist.
There’s always been a debate between the precious metal and leading crypto, some say Bitcoin will dethrone it, but others don’t. Specifically, Goldman Sachs states that they see no „evidence that the Bitcoin spike“ will destroy gold.
Certainly Goldman Sachs states that „the recent low performance of gold against real rates and the dollar has left some investors concerned that Bitcoin is replacing gold as the preferred inflation hedge.
So, „while some substitution is taking place, we don’t see Bitcoin’s growing popularity as an existential threat to the status of gold as a currency of last resort.