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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Price Hits New All-Time High Above $28,500

Bena Ilyas
Bena Ilyas
8 months ago
1 min read
bitcoin

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Bitcoin has undergone a strong rally over the past 24 hours. The cryptocurrency is up 8% in the past 24 hours alone, pushing from the $27,000 range to $28,500 now.

The leading cryptocurrency set a new all-time high just a number of minutes ago above $28,500, pushing to $28,600 on top exchanges. This was marked by not much hype on Twitter despite this being a new all-time high, potentially because this new high was only marginally above the previous one. Also, Twitter seems to be focused on an Ethereum-based DeFi app as opposed to the Bitcoin rally.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Bitcoin Explodes Higher

This comes as there has been a continued interest by institutions in BTC.

Skybridge Capital was revealed today to have likely invested over $180 million worth of capital into Bitcoin via its funds. The company recently launched a Bitcoin-focused fund to allow investment advisors to gain exposure to the leading cryptocurrency.

Raoul Pal thinks that reflexivity will take this market to an extremely volatile place.

We are at the stage where people I really respect – mean reversionists, value players and rationalists are urging caution in bitcoin.

— Raoul Pal (@RaoulGMI) December 30, 2020

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Bitcoin Hits New All-Time High Above $28,500
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Bena Ilyas
Bena Ilyas

Bena Ilyas

Benna Ilyas is a finance and cryptocurrency enthusiast who has been writing about Bitcoin and the blockchain since 2021. She is an author at Bitcoinist and NewsBTC, and she also runs his blog, where he writes about all things related to crypto and finance.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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