Cryptocurrency News

Bitcoin Records New All-Time High Record On Christmas Day

Bitcoin has grown massively over the years, hitting different milestone figures and achievements in the process. Since it was created, Bitcoin created a remarkable first time high in 2017 when the leading digital asset hit $19,000. Coming close three years later, Bitcoin smashed the previous all-time high record and further created another one.

With the way things are going, it looks like Bitcoin is not yet done in creating all-time high records as the digital asset once again created a new record of $25,000. The digital asset hit $25,000 on Christmas day across the United States, but in Asia, the bulls pushed the digital asset’s price to hit the all-time high record.

Bulls were actively involved in the new all-time high record

The new record was achieved in the early parts of December 26 after a very stressful trading day, as shown by several on-chain records. Bitcoin began its price acceleration after undergoing a small price correction before going on to hit the new record. Even though the digital asset spent time in the record region, it has also undergone a recent price correction that has seen the digital asset trade a little bit lower than the $25,000 mark.

Even though Bitcoin has regressed a little as the leading digital currency currently trades around the $24,845 region, Bitcoin holders and enthusiasts would still be taking in their profits in a year that has seen Bitcoin touch the $3,500 price region. Bitcoin encountered what would be considered a coronavirus pandemic decline as Bitcoin saw its price move from around the $7,000 region to sell at around $3,500.

The digital asset lost about 50% in what would be described as a Black Thursday across the crypto market. This has pushed analysts and experts to agree that this current bull run is entirely different from the one that occurred in 2017, which saw Bitcoin create its all-time high record.

Analysts say this bullish run is healthier than the one of 2017

This present bull run looks more stable with the digital asset’s run to hit all the all-time high this year seen as healthy. One thing that has helped this bull run that was not present in the last one was the active involvement by high-value clients, institutional investors, and hedge fund managers. This means that the bulls would be joyously holding on to the momentum, which will further push the digital asset higher in terms of price.

Bitcoin reached a new all-time high record on Christmas day in most places worldwide as the digital asset hit a new price mark that has never been seen in the digital asset. Leading several institutional investors, Microstrategy has made a series of purchases of digital assets.

These purchases started a few months ago, and as it stands, the investor has been able to push out most investors out of the ranking for the highest number of Bitcoin held by private investments. Another factor contributing to the surge of the digital asset was the mainstream adoption that was made possible due to the coronavirus pandemic.

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