The bitcoin price has crossed the $ 24,000 mark. What's next?

On Saturday, 12/19/2020, optimism and active efforts on the part of bull traders raised the price of BTC above 24 thousand dollars

BTC bull market prerequisites

The 2020 market has flourished thanks to the pandemic. Digital payments fit perfectly into the concept of social distancing. Fiat currencies fluctuate and the dollar is rapidly losing its position as a store of value. It is being replaced by bitcoin.

BTC price

Large Wall Street firms and other companies are actively transferring millions of dollars to BTC for long-term storage. Cryptocurrency trusts have shown phenomenal growth. It is only a matter of time before the number of institutional investors reaches a critical mass.

Paypal has opened up the ability to buy BTC. Since the beginning of the year, many DeFi projects have been launched, allowing you to receive loans and invest in a crypto deposit at decent interest rates.

New popular projects are launched, the capitalization of cryptocurrencies is growing. Bitcoin by this indicator is 80 billion more than the capitalization of the largest bank in the United States J.P. Morgan.

Future plans

Many believe that Bitcoin will surpass the $ 25,000 bar by Christmas. Given that there is less than a week left, this no longer seems so unrealizable.

Social networks are full of positive information. Popular video blogger IvanOnTech wrote on Twitter that Bitcoin could reach $ 30,000 by Monday. It is not clear yet whether his forecast will come true. It would be nice.

There are other opinions as well. The current price could be the high at least this week. Tom DeMark thinks the bitcoin rally has run out of steam.

In our opinion, with the support that institutional investors provide to Bitcoin, BTC has every chance to raise the price even higher.