Bitcoin Climbs to Record High Near $20,000

Monday, November 30, 2020

Bitcoin just hit another milestone in its impressive 2020 run. The cryptocurrency surged 9% to a new all-time high of about $19,860 on Monday, topping the previous peak of $19,783 from December 2017. ... "This rally is driven by smart and institutional money and not built solely on retail over-speculation," said Guy Hirsch, managing director for the US at eToro, brokerage and trading firm, in an e-mail to CNN Business. "So many more individuals and asset managers are now buying in."

Posted by retort at 01:25 PM | 7 COMMENTS | permalink | Comment on This Entry |

Alternate links: Google News | Twitter

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

FOMO fueled rally.

#1 | Posted by Scotty at 2020-11-30 02:28 PM | Reply

FOMO fueled rally.

#1 | POSTED BY SCOTTY

Not this time. The buzz around places like Twitter is nothing like it was before the major crash sometime ago. People just aren't excited.

In addition, there was already a 15% crash from around 19,000 to closer to 16,000 and now its come rolling back.

Bitcoin is just WAY too big in terms of dollar volume to really go rally on FOMO.

The real cause is systems picking up Bitcoin. Paypal for instance is using it now.

#2 | Posted by Sycophant at 2020-11-30 02:45 PM | Reply

Bitcoin Jumps to Record High as Bulls Say This Time Is Different
www.bloomberg.com

..."Bitcoin's moment has arrived," said Guy Hirsch, managing director for the U.S. at the trading platform eToro, who cited institutional involvement as one of the reasons for its recent advance. "This rally could still have quite a ways to go."...

With the eye-popping gains, traditional financial firms have sought to capitalize on increasing institutional demand, with Fidelity Investments launching a Bitcoin fund earlier this year. PayPal Holdings Inc.'s decision in October to allow customers to use cryptocurrencies was seen as opening it up to an even wider audience....

#3 | Posted by LampLighter at 2020-11-30 03:33 PM | Reply

Bitcoin is a purely speculative scam, not a currency and not an investment. Unregulated, uncontrolled, and subject to the whims of drug dealers, crooks, thieves and Trump-style grifters. Want to set some money on fire? Better to buy firewood than Bitcoin...

#4 | Posted by catdog at 2020-12-01 10:20 AM | Reply | Funny: 1 | Newsworthy 1

Paypal for instance is using it now.

#2 | POSTED BY SYCOPHANT

Yup, and it's so frickin' easy.

#5 | Posted by rstybeach11 at 2020-12-01 03:27 PM | Reply

Better to buy firewood than Bitcoin...
#4 | POSTED BY CATDOG

Funny. I heard old fogies barking up the same tree five years ago when I started investing.

I've already sold enough bitcoin to purchase firewood for the rest of my life.

Funny, your post is because of its inaccuracy, indeed.

#6 | Posted by rstybeach11 at 2020-12-01 03:30 PM | Reply

Want to set some money on fire? Better to buy firewood than Bitcoin...

That's strange. I just sold last week on 500% gains. I'll listen to the money in my pocket rather than you.

#7 | Posted by boaz at 2020-12-01 09:27 PM | Reply