Another month, another record for Bitcoin. The second half of 2020 has just been a phenomenal time for bitcoin post halving. It seems like every month that passes, a new record is being set for the King of crypto.
In October, after an impressive 27% run up from $10,795 to $13,788, clocking its 2nd highest monthly close since that insane December 2017 month, Bitcoin has outdone itself in November, pushing up a further 43% from $13,788 to close at $19,700, while casually notching a new all time high of $19,864!
This means 4 records were being concurrently set in November 2020.
New All Time High
A new all time high was set on the last day of November, with the price touching $19,864, before settling for the close at $19,700.
New high for monthly close
The previous highest monthly close was back in December 2017, where you’ll remember we ran all the way up to $19,666 in mid December before very quickly losing steam and dropping down to $13,880 for the close. So this new monthly close high of $19,700 is extremely bullish from a macro perspective.
Biggest monthly increase in dollar value
A 43% run up from an already high price means a huge pickup from a dollar value perspective, so it’s no surprise that Bitcoin will pick up another record in this respect. That 43% increase in price translates to $5,912 between 1 and 30 November.
Longest run of days above $10K
Not sure if anyone is still keeping track, but as of 1 December 2020, Bitcoin has gone on a run of 127 consecutive days trading above $10,000.
Did I miss out on anything?
What records do you think Bitcoin will break in December 2020?
Bitcoin marketcap leapfrogs MasterCard
As of today, Bitcoin has a marketcap of $349B. Over the past month, Bitcoin has overtaken companies like PayPal and MasterCard in terms of marketcap, and is next in line to flip VISA and JP Morgan.
If December performs in a similar trajectory, that is all but certain.
Exciting times are ahead!
Crypto aside, 2020 has been an absolute shit show for me personally, so here’s hoping for a very Merry Christmas and a much better 2021 for everyone.
As PlanB says, it’s just the beginning… Enjoy the ride!