After toying with all-time worth highs in current weeks, Bitcoin (BTC) lastly crossed $20,000 for the primary time on Dec. 16. The digital foreign money hovers round $20,800 at time of publication. 

“We’ve been ready for this second for years, and now that $BTC #Bitcoin has lastly damaged 20k, all bets are off,” Cheds, a crypto trader and analyst on Twitter, informed Cointelegraph. “What occurs subsequent may make historical past,” he mentioned, including:

“Will we blast to 30k? Or will we pull again to 14k and type a cup and deal with, or one thing in between? One factor is for positive with this new breakout, $BTC #Bitcoin can be getting much more eyeballs!”

Bitcoin has executed fairly nicely in 2020, regardless of the coin’s dramatic fall in March; the worth sank to $3,600 amid rising COVID-19 fears. From there, nonetheless, BTC carved out an uptrend, recovering sooner than mainstream markets, taking all of it the best way to the degrees seen immediately.

“I’m over the moon to get up to Bitcoin breaking $20k!” CryptoWendyO, one other crypto trader and analyst on Twitter, informed Cointelegraph. “Nonetheless, I am traumatized from the prior bear market and nonetheless cautious because the ambiance is extraordinarily euphoric,” she added.

After Bitcoin’s final main bull run, which ended with its 2017 excessive of $19,892, the asset fell right into a multi-year bear market, floundering under $5,000 in late-2018 and early 2019.

Seeking to the long run, CryptoWendyO sees $22,500 as a logical degree from right here. “$22,500 is my subsequent goal because it’s the center space between fib 1 to fib 1.272,” she mentioned, referring to fibonacci worth chart ranges. “I like to take a look at issues conservatively and count on some motion at that space earlier than $25,000.”

All-time worth highs, in concept, imply that each one who holds Bitcoin is in revenue — as identified in a recent tweet by Messari CEO Ryan Selkis.

Along with Bitcoin’s main worth motion this yr, a number of massive mainstream gamers have jumped on board the practice, investing lots of of tens of millions of {dollars} within the coin. Enterprise intelligence agency MicroStrategy has turn out to be majorly bullish on Bitcoin, led by CEO Michael Saylor. Different bullish mainstreamers embody Paul Tudor Jones, Sq., and MassMutual.