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Over the Moon: Bitcoin’s All-Time High and How to Invest

by Powered by eToro
January 15, 2021
in Explore
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

OUR STORY                 DISCOVER CRYPTOCURRENCIES                  NEWS AND UPDATES

Mere days after celebrating its 12th birthday, Bitcoin showed the world that it has much room for growth. After topping $20,000 in 2020, Bitcoin didn’t stop and continued to break milestone after milestone, climbing above $40,000. Who knows? Maybe by the time you finished reading this paragraph, it already hit another milestone.

But is it too late to join the Bitcoin party? While the world’s first and largest cryptocurrency is at an all-time high, there may still be a chance for investors to jump on the crypto wagon, and on eToro you can start with as little as $500.

Bitcoin’s all-time high

The last time Bitcoin had such an incredible bull run was at the end of 2017, when its price soared to nearly $20,000, fueling an incredible crypto rally and reaching heights that were unprecedented at the time.

However, that feat dwarfs in comparison to the current crypto rally, as Bitcoin improved upon its previous record by 75% and the crypto market as a whole reached the largest market cap ever. However, since cryptoassets are known to be extremely volatile, will this bull run be sustainable?

How much higher can Bitcoin climb

Unfortunately, there’s no crystal ball that can answer that question for sure. On the one hand, Bitcoin has taken roller coaster rides in the past, going to terrible lows quickly after reaching incredible heights.

On the other hand, there’s no telling when the peak will be reached. As opposed to most other financial assets, which have decades of history and charts to analyze, Bitcoin is fairly new and has less history in its charts. Is $40,000 the peak? Will it be $50,000? JPMorgan Chase thinks it’ll be a whopping $146,000.

Why is the crypto market rallying

As opposed to other markets, in which the reason for rallies is often easily found in the fundamentals, the situation is not the same for crypto. While sometimes it is easy to pinpoint the reason for a bullish trend, often markets seem to rise independently of information available.

However, there is one trend that started in 2020 which could be the reason for it all – institutional involvement. There is often a positive correlation between Bitcoin’s mainstream inclusion and a price rally, and there have been several pieces of news that supported such an inclusion.

Aside from the aforementioned JPMorgan endorsement, PayPal also recently announced support for Bitcoin and other cryptocurrencies, fueling the rally that pushed Bitcoin past $20,000. Moreover, in recent years, several mainstream banks and financial firms have started offering Bitcoin custodianship to their customers.

What’s next for Bitcoin

That’s the question to which anyone in the world would like the answer. The simple truth is – nobody knows. While some have long believed that Bitcoin will reach six digits in our lifetime, others think that it will once again succumb to its highly volatile nature and come crashing down. Judging by the world’s first cryptocurrency’s history, either side could be right – and perhaps both will be, as Bitcoin could maintain its record-to-crash cycle.

Either way, saying that a certain direction is certain would be a fool’s belief. If the history of financial markets, and especially that of Bitcoin, has taught us anything, it’s that bulls can run for a long time but can also crash in an instant. What do you think will happen?

This post originally appeared on the eToro blog.


Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk.

This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as a reliable indicator of future results.

All contents within this report are for informational purposes only and does not constitute financial advice. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilizing publicly-available information.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.




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