• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Monday, September 25, 2023
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

Market Wrap: Bitcoin Closes 2020 Near Record Highs

31 December 2020
in Market
Reading Time: 6 mins read
A A
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT


The Takeaway:

Bitcoin nearly triples its price in 2020 and ends the year close to $29,000 but ether gained 450%.

  • Bitcoin (BTC) trading around $28,963 as of 21:00 UTC (4 p.m. ET), gaining 1.5% over the previous 24 hours.
  • Bitcoin’s 24-hour range: $27,916.63 – $29,280.05 (CoinDesk 20)

Bitcoin prices, Dec. 30 – Dec. 31, 2020.

Bitcoin printed a new record high above $29,000 early Thursday before charting a quick pullback to $27,900 during U.S. trading hours, according to data compiled by the CoinDesk 20.

Despite the minor drop, the number one cryptocurrency by market value is eyeing its third consecutive monthly gain, a feat last achieved in the second quarter of 2019. The cryptocurrency has rallied by over 45% this month alone and is on track to end 2020 with at least a 290% gain.

The price rally puts bitcoin far ahead of traditional assets such as gold and stocks. The yellow metal has gained 25% this year, and the S&P 500, Wall Street’s benchmark index, has added 15%.

The year 2020 will go down in history as the period of bitcoin maturing as a macro asset, with prominent publicly-listed companies such as MicroStrategy diversifying their cash reserves into the cryptocurrency.  

Most observers expect a continued rally in 2021. “The longer-term economic impacts of COVID are unknown. However, as we’re still in the midst of major economic disruptions and historical volatility, I believe bitcoin/crypto will continue to rise and be at the pinnacle of positive change,” Changpeng “CZ” Zhao, CEO of cryptocurrency exchange Binance, said in a New Year’s message. 

Analysts at the investment banking giant JPMorgan foresee bitcoin’s increasing mainstream adoption hurting gold’s price. 

However, a correction could be seen in the short run if the spot inflow from institutional investors slows down, according to Ki Young Ju, CEO of cryptocurrency data provider CryptoQuant. 

“We haven’t had significant Coinbase outflows since $23,000,” Ju told CoinDesk. “Tokens transferred are decreasing and the fund flow ratio for all exchanges is increasing. Grayscale BTC holdings are 607,000 since Dec. 25,” 

From a technical analysis standpoint, $27,300 is key support which, if breached, would open the doors to $25,300, according to crypto exchange EQUOS’ daily bitcoin analysis email.

Ether outperforms bitcoin

Related articles

Some Japanese XRP Holders Will Receive Yen for Delayed Songbird Airdrop

Some Japanese XRP Holders Will Receive Yen for Delayed Songbird Airdrop

23 September 2023
Americans (Seemingly) Aren’t Allowed to Put This Economic Theory to the Test

Americans (Seemingly) Aren’t Allowed to Put This Economic Theory to the Test

22 September 2023
  • Ether (ETH) trading around $742.19 as of 21:00 UTC (4 p.m. ET), down 0.8% over the previous 24 hours.
  • Ether’s 24-hour range: $723.18 – $755.56 (CoinDesk 20)

Ether prices, Dec. 30-Dec. 31, 2020.

Ether, the second-largest cryptocurrency by market value, has gained over 450% this year versus bitcoin’s 300% rally. The cryptocurrency rose to a 31-month high of $757 on Wednesday and was last seen trading at $730. 

Ether received a boost from the decentralized finance’s explosive growth in 2020, and stronger gains could be in the offing next year. 

According to Ryan Watkins, an analyst at crypto data provider Messari, the CME’s recent announcement to launch ether futures in February is a sign of growing institutional interest in the cryptocurrency.

Bitcoin charted a strong rally in the run up to futures listing on CME three years ago. The exchange announced bitcoin futures on Oct. 31, 2017, when the cryptocurrency was trading near $6,300, and traded the first contract on Dec. 27. By then, prices had neared $20,000. 

Other markets

[crypto-donation-box]
Cryptohopper
ADVERTISEMENT

Digital assets on the CoinDesk 20 are mostly down Monday.

Notable winners on the day as of 19:00 UTC (2:00 p.m. ET): 

  • cosmos (ATOM): +11.5%
  • chainlink (LINK): +1.7%
  • OMG network (OMG): +1.6%
  • orchid (OXT): -5.0%
  • stellar (XLM): -4.5%
  • bitcoin cash (BCH): -4.0%
  • Japan: Nikkei 225: 27,444.17 (-123.98 or -0.45%)
  • UK: FTSE 100: 6,460.52 (-95.30 or -1.45%)
  • U.S.: S&P 500: 3,756.07 (+24.03 or +0.64%)
  • Oil was down 0.22%. Price per barrel of West Texas Intermediate crude: $48.18.
  • Gold was in the green 0.3% and at $1,900 as of press time.
  • The 10-year U.S. Treasury bond yield fell Thursday to 0.917%.



Source link

Tags: BitcoinCloseshighsMarketRecordWrap
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

21Shares removes XRP from flagship HODL ETP following SEC lawsuit against Ripple

Next Post

Will Tether (USDT) Be SEC’s Next Target After Ripple’s XRP?

Related Posts

Some Japanese XRP Holders Will Receive Yen for Delayed Songbird Airdrop

Some Japanese XRP Holders Will Receive Yen for Delayed Songbird Airdrop

23 September 2023
0

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The...

Americans (Seemingly) Aren’t Allowed to Put This Economic Theory to the Test

Americans (Seemingly) Aren’t Allowed to Put This Economic Theory to the Test

22 September 2023
0

However, all that said, there's something to the idea that the CFTC is using the levers of regulation to essentially...

Coinbase (COIN) Has Recently Held Talks to Buy FTX Europe: Fortune

Coinbase (COIN) Has Recently Held Talks to Buy FTX Europe: Fortune

22 September 2023
0

Derivatives, which are financial contracts that derive their value from an underlying asset such as bitcoin (BTC), can be lucrative...

Ether (ETH) Price Under Pressure as Ethereum Blockchain Revenue Plunges, Crypto Turns Inflationary

Ether (ETH) Price Under Pressure as Ethereum Blockchain Revenue Plunges, Crypto Turns Inflationary

22 September 2023
0

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The...

Google Cloud Pushes Deeper Into Blockchain Data, Adding 11 Networks Including Polygon

Google Cloud Pushes Deeper Into Blockchain Data, Adding 11 Networks Including Polygon

22 September 2023
0

“Over the past 18 months we’ve been investing in this space, we’ve continued to hire, we’ve continued to grow not...

Load More
Next Post

Will Tether (USDT) Be SEC’s Next Target After Ripple’s XRP?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • ApeCoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • HBAR
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • QNT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • Bitcoin Holds $26K Fort, Ethereum, Dogecoin Head Lower As Sharp Sell-Off Hits Equity Markets: Analyst Looks To ‘Uptober’ For Relief Rally
  • Is XRP Getting Squeezed? Price Remains Anemic
  • Solana’s #1 NFT Market Surpasses NFT Projects Running on Ethereum 

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2022 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$26,167.00-1.48%
  • ethereumEthereum(ETH)$1,578.11-0.88%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$208.92-0.54%
  • rippleXRP(XRP)$0.50-1.10%
  • usd-coinUSDC(USDC)$1.000.03%
  • staked-etherLido Staked Ether(STETH)$1,578.63-0.90%
  • dogecoinDogecoin(DOGE)$0.060928-1.00%
  • cardanoCardano(ADA)$0.244078-0.40%
  • solanaSolana(SOL)$19.48-0.31%
  • ToncoinToncoin(TON)$2.22-3.14%
  • tronTRON(TRX)$0.0840770.47%
  • Wrapped stETHWrapped stETH(WSTETH)$1,864.880.36%
  • polkadotPolkadot(DOT)$4.00-0.41%
  • matic-networkPolygon(MATIC)$0.51-0.99%
  • litecoinLitecoin(LTC)$64.28-0.89%
  • shiba-inuShiba Inu(SHIB)$0.000007-0.40%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,163.00-1.65%
  • bitcoin-cashBitcoin Cash(BCH)$205.64-1.79%
  • chainlinkChainlink(LINK)$7.180.18%
  • daiDai(DAI)$1.00-0.03%
  • true-usdTrueUSD(TUSD)$1.000.04%
  • leo-tokenLEO Token(LEO)$3.76-2.14%
  • uniswapUniswap(UNI)$4.24-0.88%
  • stellarStellar(XLM)$0.112867-0.41%
  • avalanche-2Avalanche(AVAX)$8.79-1.45%
  • moneroMonero(XMR)$143.990.69%
  • okbOKB(OKB)$42.74-0.12%
  • binance-usdBinance USD(BUSD)$1.00-0.04%
  • ethereum-classicEthereum Classic(ETC)$15.17-0.64%
  • cosmosCosmos Hub(ATOM)$6.99-1.07%
  • hedera-hashgraphHedera(HBAR)$0.050045-1.75%
  • filecoinFilecoin(FIL)$3.22-0.74%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • crypto-com-chainCronos(CRO)$0.050528-1.37%
  • lido-daoLido DAO(LDO)$1.48-1.00%
  • internet-computerInternet Computer(ICP)$2.94-0.59%
  • quant-networkQuant(QNT)$88.62-2.24%
  • AptosAptos(APT)$5.425.63%
  • MantleMantle(MNT)$0.3967061.03%
  • vechainVeChain(VET)$0.016620-1.37%
  • makerMaker(MKR)$1,279.90-0.63%
  • nearNEAR Protocol(NEAR)$1.11-0.09%
  • ArbitrumArbitrum(ARB)$0.81-0.56%
  • optimismOptimism(OP)$1.27-1.31%
  • KaspaKaspa(KAS)$0.0483906.33%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,713.28-1.02%
  • BSCEXBSCEX(BSCX)$237.190.34%
  • aaveAave(AAVE)$62.01-1.28%