The most popular cryptocurrency took another breath for growth after a slight slump. In Wednesday trading, it almost reached $29,000 and is approaching another psychological threshold. During 2020, Bitcoin rated about twelve times more than gold.
It doesn’t seem like anything’s going to stop a great ride. The oldest and most popular cryptocurrency in the world reaches another psychological limit of 30 thousand dollars. On Wednesday, she missed out on just under $1,200 to overcome it, solidifying by more than six percent in 24 hours.
Investors, meanwhile, had been picking up profits in the previous three days, sending Bitcoin from more than $27,000 to $26,000. But on Wednesday night Central European time, there was a turnaround, and Bitcoin began to grow massively. For the whole of 2020, the most popular cryptocurrency increased by about 300 percent. By comparison, gold firmed by less than a quarter, with the new York S&P 500’s main index up only about 15 percent.
The question is how long and how quickly Bitcoin can still strengthen. It should be remembered that it is currently benefiting to a large extent from the US central bank’s extremely loose monetary policy, as well as from the fact that stocks no longer offer such growth potential. So it can be assumed that once central bank support passes, Bitcoin’s growth will slow.