Maybe it was a Christmas Miracle? Bitcoin just hit another ATH.
It depends on your time zone—though Bitcoin hit $25,000 while it was still December 25 in the U.S., it was actually December 26 when the Asian bulls (who apparently made it happen) set a new historical record for the cryptocurrency. The milestone occurred at 3:00 am UTC, in the middle of a hectic trading day in Asia, on December 26.
Bitcoin started the day with a brief correction in the middle of a bullish trend.
But the bulls didn’t want to rest, and after a brief 60-minutes hiatus, they regained control, pushing Bitcoin up to $24,895. Two hours later, a green candle brought it to $25,000. This round number probably triggered a high number of take-profits (sales orders that are activated once an asset touches a specific price), preventing the rise to continue.
As of this writing, Bitcoin was trading at $24,700—which is still a great Christmas present for hodlers and enthusiasts after a year full of crazy and difficult events.
As Decrypt reported in October, 2020, the bull run appears to be different than the one experienced in 2017. The pace looks much healthier and more stable. The massive institutional investments and broader adoption by a larger public seem to be part of the fundamentals behind this bull run. So perhaps we will also have a happy new year to celebrate, too.
