Bitcoin clears $20,000 for the first time

On Wednesday, December 16, the price of the first cryptocurrency rose above $20,000 for the first time.

On the Bitstamp exchange, quotes at one point rose to $20,440, and shortly after reached $20,800.

BTC/USD chart for Bitstamp from TradingView.

Exactly a week ago, the price of Bitcoin fell to December’s low around $18,000. By the end of the week, quotes had risen above $19,000, after which a new all-time high was reached.

In the last 24 hours, the price of the first cryptocurrency rose by 5%, with a weekly gain of more than 10%.

Bitcoin’s market capitalization at the time of writing stood at $376.9 billion, with a 63.3% dominance of the broader market.

Ruffer Investment confirmed the purchase of Bitcoin for $744 million

Altcoins also showed strength. The price of Ethereum, the second-largest by market capitalization, rose to $628 at one point. This was aided by news that the Chicago Mercantile Exchange (CME) will launch Ethereum futures trading in February 2021.

ETH/BTC chart for Bitfinex from TradingView.

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