Bitcoin price breaks above $19,000

On Tuesday, November 24, the price of the first cryptocurrency rose to a new 2020 high, climbing above $19,000. Bitcoin’s market capitalization reached a new all-time high of $352 billion.

At one point, quotes rose to $19,333.

BTC/USD chart from Bitstamp on TradingView.

Over the past 24 hours, Bitcoin rose 3.3%; over the week — 14.6%.

Amid the unstoppable price rise, there is a surge in trading activity on various exchanges, including Binance.

Noted trader Michaël van de Poppe reminded that eight months ago Bitcoin traded below $4,000, and now the price is approaching a new all-time high.

8 months ago $BTC was sub $4K.

Right now we’re approaching all-time high.

Insane.

— Michaël van de Poppe (@CryptoMichNL) November 24, 2020

For details on why Bitcoin’s price is rising, read in an exclusive ForkLog feature.

The day before, PayPal chief Dan Schulman said that Bitcoin will be used more for everyday payments in the future. The company will open access to buying and selling cryptocurrencies across the United States in December, and in 2021—across other countries.

According to Pantera Capital, PayPal users are buying up 70% of all issued bitcoins.

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