Wednesday, May 22, 2024

Bitcoin Hits $19000, Inches Away From It’s All Time High

Bitcoin, the world’s No.1 cryptocurrency, crossed the $19,000 mark on Tuesday, November 24. At time of writing, Bitcoin is trading at $19,330 on Binance. Bitcoin had earlier touched the $19000 figure in 2017.

The last time the price of bitcoin went up so much, the whole world was talking. But today we are in 2020 and there has been a lot of change in people’s thinking and nobody is paying attention to it and the currency is again on record run.

The last time Bitcoin was trading at this price was on 19 December 2017. During the impressive bull run of bitcoin, which began on October 1, the price of bitcoin rose from $10,779 to $19,135.

Mr. Vikram Rangala, Chief Marketing Officer at ZebPay believes that:

“No one can predict how far a rally can go, so short-term speculation is very risky. However, there is one smart investment strategy: cost averaging for the long term. Buy small amounts of bitcoin daily or weekly, hold it long-term through the ups and downs, and stick to your buying plan for years, not months. It’s like an SIP for bitcoin.

No one knows how far this rally will go but at some point there is always a correction. Anyone who pretends to know more than this is fooling himself or others. Long-term prediction is easy, though. Bitcoin will continue to go up (with periodic corrections) and could easily hit 1 crore by 2030, as our CEO has predicted. Investors should plan in years, not weeks.”

Must Read: How To Buy Bitcoin in India 2020 Legally – Complete Guide

Bitcoin is now close to $20,000, its all-time high price, which it touched on the bull run of 2017. At this time it is being speculated that by the end of 2020, bitcoin will touch a new all time high price. In addition, since the beginning of 2020, BTC-USD is up 163.44%.

Monesh Kumar
Monesh Kumar
Monesh Kumar is a cryptocurrency and blockchain enthusiast. He trades cryptocurrencies and holds some but he prefers holding Bitcoin, Ethereum & Cardano.

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