Bitcoin trades above its previous ATH and hits a fresh one this time at $22.3k just before the closing of yesterday’s trading session, dated December 16, 2020. Currently, it is trading with slight correction but maintains its stance above $22k. Exactly after 3 year of consolidating in the lower price range, BTC spurred against the US Dollar to breach $20k, $21k and $22k as well.
Even though Bitcoin corrected to yearly supports as low as $3600 in March when the global markets banged due to COVID-19 pandemic, it is still hitting an All-Time High at $22.3k. This clearly reflects a rise of over 500% in less than 12 months of a year.
Also, as per Bitcoin price prediction, it is expected to reach an all-time high of $100k, to as much as $400k by end of year 2025.
It was until the consolidation period before the onset of this quarter in October when people were believed to loosing hope in Bitcoin and it was surrounded by negative controversies as to it going to 0 sooner than later. One of the many critics of Bitcoin was Peter Schiff, blindly believed in investing in Gold, Silver or alike but never fall for the largest cryptocurrency by market capitalization which in his view was nothing but sheer manipulation.
However, with the current rise in Bitcoin price, one of the top and known critics, Peter Schiff is believed to claim that he was wrong in not trusting the power of Bitcoin. He clearly trusts in an extreme bullish crossover for Gold in the next year and until BTC spiked to an ATH, it seemed a possibility as well.
Little did he know that Bitcoin could twist the tables and go ahead to be one of the most expensive investments even before the onset of 2021, at least expensive that Gold.
Bitcoin Price Analysis
Alongside, a clear rise in BTC price is also reflected since the beginning of the ongoing quarter until the last week of the previous month, just before volatile consolidation splurged in.
