Bitcoin has registered a new all-time high price after breaking its previous record of $19,738. According to Bitstamp, Bitcoin’s price hit $19,825 before retracing to its current price of $19,500.
The cryptocurrency has spent the better part of the last 4 months on a bull run that saw Bitcoin’s price rise from approximately $11,000 to near all-time highs. Then, the market crashed, as Bitcoin fell to about $16,400. But in a strong reversal, the record has finally been broken—and crypto Twitter is having a party.
“Congrats to those who have survived a full market cycle. Better buckle up!” said Casa CTO Jameson Lopp.
Congrats to those who have survived a full market cycle. Better buckle up! pic.twitter.com/GqKXM3mqU5
— Jameson Lopp (@lopp) November 30, 2020
Buoyed by Bitcoin’s recovery from last week’s decline, Pierre Rochard, Bitcoin strategist at Kraken, recommended selling other assets to buy more Bitcoin.
Sell your stock and bond portfolio, buy #bitcoin.
— PierreRochard.com (@pierre_rochard) November 30, 2020
Michael Saylor, CEO of MicroStrategy and outspoken Bitcoin advocate, tweeted just one hour ago and made reference to Bitcoin’s functionality just in time for the all-time high. While 2020’s Thanksgiving threatened to be synonymous with a price correction that saw Bitcoin fall just short of an all-time high, Saylor noted that Bitcoin put the hard yards in during the holiday.
Over the Thanksgiving holiday weekend, #Bitcoin operated uninterrupted for 113.5 hours vs. 3.5 hours for US capital markets. Networks from Google, Apple, Facebook, & Amazon also operated uninterrupted. No one is going to settle for 3.1% availability from their monetary network.
— Michael Saylor (@michael_saylor) November 30, 2020
As always, Bitcoin bear Peter Schiff weighed in. He suggested that the price rise was all based on a rumour.
The news that Guggenheim is contemplating putting as much as $500 million into GBTC has sent the price of Bitcoin to a new high. I doubt Guggenheim is dumb enough to actually do this, but they may be smart enough to float the rumor to help pumpers manipulate the price higher,” he tweeted.
The news that Guggenheim is contemplating putting as much as $500 million into GBTC has sent the price of #Bitcoin to a new high. I doubt Guggenheim is dumb enough to actually do this, but they may be smart enough to float the rumor to help pumpers manipulate the price higher.
— Peter Schiff (@PeterSchiff) November 30, 2020
Where does Bitcoin’s price go next?
Now, crypto Twitter is speculating about what’s next for Bitcoin.
Some, not convinced the day is done, are anticipating Bitcoin’s next record will be breaking the $20,000 barrier. Anthony Pompliano, author of the Pomp Podcast—one of the most popular podcasts in the crypto community—tweeted, “Bitcoin is really making a run at $20,000 this morning.”
Holy shit. Bitcoin is really making a run at $20,000 this morning.
Currently sitting at $19,720.
— Pomp (@APompliano) November 30, 2020
But others are not quite satisfied with $20,000. Tyler Winklevoss, co-founder of Gemini, says Bitcoin is onward and upward “to the moon.”
— Tyler Winklevoss (@tyler) November 30, 2020
Similarly, Binance CEO Changpeng Zhao suggested “slapping yourself” if you sold Bitcoin—and that’s not for the first time.
— CZ Binance (@cz_binance) November 30, 2020