Is the bitcoin peak of 2020 behind us already? Bitcoin’s price collapsed in 48 hours, with a loss of more than $ 2,000.
From $ 15,000 to $ 19,000 in a month: it looked like bitcoin was really on record again this time. The crypto coin, still a risky investment, has seen volatile prices for years, but now seemed on its way to the magical $ 20,000 mark.
The fall of bitcoin
On Tuesday, the crypto was still worth more than $ 19,000. On Wednesday the tide began to turn, by evening the price per bitcoin plunged again below 19,000 and the lower limit of 18,000 came into the crosshairs. At the time of writing, bitcoin is still worth $ 16,925.
Does this put a final end to the rally? Bitcoin believers will argue that the route to that first record was also not without stumbling. Then bitcoin also fell briefly to $ 18,000, before moving on to an ‘end of day’ rate of $ 19,666. Bitcoin peaked briefly at USD 20,047 beforehand.
In recent weeks, many investors have speculated that $ 20,000 was just the first hurdle for bitcoin. Now that a few institutional investors have also pumped several millions into bitcoin, the outlook looked good. Some early bitcoin enthusiasts even dared to speculate about a bitcoin price of 100,000 to 340,000 dollars.
Gold standard?
According to critics, the dip of bitcoin now mainly seems to show that the crypto currency is certainly not yet the safe haven that investors dreamed of. The idea of the new gold standard has also been temporarily dropped. Although bitcoin can also install a remonte very quickly: a rally of $ 2,000 in 48 hours would also not be unique.
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Source: BusinessAM
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