PremiumCryptocurrency: Bitcoin, the currency that wants to imitate gold

Shrikesh Laxmidas 28 November 2020, 15:00

After the dazzling rise followed by a downward spiral in 2017, bitcoin's value has skyrocketed more than 150% this year. The appetite for risk, the entry of institutional investors, the scarcity of supply and the perception that it could become a reserve asset brought the price close to highs and to the level of 20 thousand dollars for each currency.

On the homepage of the specialized site CoinMarketCap there is an advertisement pop-up which invites readers to participate in a contest that leaves no doubt about what is the theme of the moment in the world of virtual currencies. "When will bitcoin reach $ 20?", Asks the site, inviting interested parties to make three predictions, in a contest that offers prizes totaling $ 10. In bitcoin, of course.

“Let's see how the price reacts to the $ 20 barrier: if you start a correction or if you get a new one momentum”Said Henrique Tomé, an analyst at brokerage XTB.

This Wednesday, the bitcoin quotation approached that level, touching $ 19.374,84 per currency, getting very close to the historical maximum of $ 19.783,21 reached on December 18, 2017, the peak of the 'fever' speculative of digital currency. This approach to such important brands may have created a psychological barrier and the price eventually dropped to $ 16.328.

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