Every time Bitcoin crosses some price threshold, there are a bunch of people like me who say to themselves, “I should have bought it at that last price.”
When Bitcoin crossed the $20k mark, maybe you could have told yourself that it possibly couldn’t go anywhere but down… but here we are.
Year-to-date, BTC is up more than 275%, you’ll be hard-pressed to find any trader with anywhere near those returns.
On December 1, 2020, BTC was trading at $19,328 and it seemed a little unlikely that it would end the year at above $20k. But it did just that on December 16th
BTC surged past $27,000 on Sunday morning, before racing past $28,000. It eventually settled at $27,604.6, up 9.63% in the last 24 hours.
What’s driving the blitz?
According to a few sources, institutional investors are putting money into bitcoin funds. MassMutual put in $100m in December and Guggenheim put up 10% of its $5bn macro fund.
In addition to all of these, if companies like Elon Musk’s Tesla convert their balance sheet into BTC, it could mean an even bigger movement.