Merry Bitmas for the Bitcoin

  • In the last 12 hours, the range has been from $336.59 – $351.17 and is expected to rally further
  • Volatility would also be substantial but in this case there is certain stability as well

In a year when the entire globe is facing uncertainty, Bitcoins continue to surpass all other forms of investments and technological superiority. The rally continues to be bullish in the near term as more and more investors are flocking on this type of technology and payments system. In the wee hours of Monday which is also the last week of 2020, Bitcoin Cash USD is trading at $344.08 which is an appreciation of 1.71% in the past 6 hours of trading.

In the last 12 hours, the range has been from $336.59 – $351.17 and is expected to rally further. With respect to its yearly high and lows, it’s 147.15% up and 30.21% low from the 52 week high. The statistics in itself highlights the unbelievable zone it is flowing towards.

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As expected, the volatility would also be substantial but in this case, there is certain stability as well. The last day and week average has been +4.75% and +7.96% respectively. The core features of quicker transaction times and lower transaction fees continue to gain an upper hand for Bitcoins Cash.

Focus on Bitcoin from all Corners

Bitcoins again has touched fresh heights and looks to breach the historical $25,000 mark very soon. The investors have termed this phase as ‘Merry Bitmas’ through social media. It has replaced various options in multiple portfolios and is expected to strongly compete against gold in various portfolios.

Another positive impact is the bitcoin miners are getting a massive boost through the Nordic region due to the availability of cheap power facilities. This not only reduces the political risk but also leads to an excess of virtual coins especially in a year where Bitcoin prices have nearly tripled. 

Despite all these aspects, there is going to be continuous scrutiny across multiple authorities and investors who are not necessarily optimistic. The government authorities across the globe will enhance their scrutiny or continue imposing restrictions due to an unforeseen rally in an unprecedented situation.

Though Bitcoins did have its issues in the past, the momentum seems to stabilise in the current scenario and more participants are willing to invest their funds through this mode. Currently, this is not a strong option for retail investors, but Bitcoins are considered as an alternative to fiat currencies. It’s acceptance as an asset class of its own is something which will take substantial time to develop and make it a preferable source of investment.

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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