On the 24th of November, Bitcoin hit $19,000, a new high not seen since late 2017. Before now, BTC hit its ATH of $19,665 on the 16th of December in the same year. Currently trading at $19,262.20, Bitcoin is on its way to a new high of $20,000. At press time, the top digital asset is up 4.96% in the last 24 hours. Also, data by CoinMarketCap showed that BTC has a 24-hour trading volume of nearly $52 billion.
Over the past months, Bitcoin’s performance has been commendable. The digital asset rebounded from the mid-March crash and has been rising since then. Back in August, BTC traded around $11,000 and has climbed over 70% to its current trading price.
According to a CryptoBriefing report, several factors, including the rise in institutional and individual investors, are behind the BTC spike. Wealthy investors such as MicroStrategy CEO Michael Saylor have acquired large amounts of the digital asset. On the 28th of October, the CEO declared that he personally holds 17,732 BTC worth $235 million. Apart from Saylor’s personally BTC, MicroStrategy has also acquired large quantities of BTC in 2020.
Earlier, MicroStrategy purchased 21,454 BTC in August. Shortly after, the company announced that it had acquired additional BTC. In total, the company now has 38,250 BTC.
BTC’s strong performance has been attracting several bullish comments. Analysts are confident that the digital asset will continue to surge till 2021.
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