Bitcoin Crosses $25,700, Aims At $26,000

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Bitcoin has set a new record, breaking the $25,500 level, according to trading platform TradingView.

What Happened: Bitcoin price briefly broke $25,005.53 and fell back to $24,971.23 before crossing the $25,000 mark and marching forward from there.

It traded at $25,500 as this article published.

Why It Matters: The main digital currency has had a record month, surpassing $20,000 less than two weeks ago, on Dec. 16. 

It reached $24,000 three days later.

Crypto enthusiasts have been very optimistic about where today’s price is going. 

Anthony Pompliano, a co-founder and partner at Morgan Creek Digital investment firm, suggested on Twitter that crypto traders are trying to pump the price to $26,000 today, for a “$26k on the 26th” push.

What’s Next: Analysts and trading experts believe there’s a bright future ahead for the leading cryptocurrency. A Citibank managing director, Tom Fitzpatrick, recently suggested that it might reach $318,000, while Guggenheim Investments believes it’ll cross $400,000.

Adam Black, a cryptography veteran and CEO of blockchain technologies provider Blockstream, believes that retail investors are behind this surge, as there’s no institutional trading during the Christmas holidays.

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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.





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