The Bitcoin worth handed $21,000 for the primary time in historical past on Dec. 16, not lengthy after the crypto asset broke the psychological $20,000 threshold.

BTC/USD weekly chart. Supply: Tradingview

The current rally to $21,569 on Coinbase at roughly 11:15 PM UTC, signifies that institutional investor MicroStrategy has seen its holdings double in worth since asserting it had adopted Bitcoin (BTC) as a reserve asset in September, when the worth was beneath $11,000.

Nevertheless, not each high-profile investor has made out like a bandit. Barstool Sports activities founder Dave Portnoy stated he offered his Bitcoin holdings in August and doubtlessly missed out on a couple of hundred grand in revenue. Portnoy reported bought at the very least $200,000 in BTC on Aug. 13 — when the worth was beneath $12,000. The identical quantity of Bitcoin could be value greater than $360,000 as we speak, with the worth having risen 80%.

Alex Mashinsky, CEO of Celsius Community, predicted the worth would possible drop quickly, presenting a shopping for alternative.

“Settle in, as a result of we might be visiting the $20-$22K degree at the very least half a dozen occasions earlier than we break by means of to the $30K vary later in 2021,” he stated.

“I do suppose we can even re-test the $14-16K ranges both over a weekend with low quantity or with unhealthy information hitting the road. That may most likely be the final time most of us could have an opportunity to purchase bitcoin under $20K ranges ever once more.”

With the bullish exercise as we speak, buyers who shorted the crypto asset have seen their positions liquidated. Based on information from crypto buying and selling platform Bybt, greater than $630 million in Bitcoin has been liquidated within the final 24 hours. Glassnode reported that there was almost $95 million in liquidations of Bitcoin futures on main crypto alternate Binance in only one hour earlier as we speak:

The worth of Bitcoin is $21,329 on the time of publication, having risen 9.7% within the final 24 hours.