Bitcoin finally breaches $16,000 to mark new high for 2020
Bitcoin, the world’s largest cryptocurrency, after much prevarication, finally breached the $16,000-mark across some major crypto-exchanges. In the last hour alone, Bitcoin hiked by over 1.5%, with the cryptocurrency gaining by over $150 on the charts. Additionally, BTC was up by 4% and 11% on the daily and weekly timeframes.
The oldest cryptocurrency has not crossed the $16,000 range since 6 January 2018.
Ever since PayPal announced that the online payments organization was going to allow customers to buy, sell and hold BTC and other altcoins using their online wallets, Bitcoin has been on a bull run.
In fact, BTC prices continued to rally in spite of the close US Presidential elections which at that time was not called for, with the flagship coin breaching a new target of $15,000 on 5 November.
A week ago, Galaxy Digital founder Mike Novogratz told CNBC’s Squawk Box that the Rubicon in BTC adoption had been crossed, even as BTC prices ranged roughly between $
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Alisha Roy, @KhareemSudlow