Today is an interesting day, as Bitcoin has started hitting all time highs on different exchanges across the market. However, after peaking just under $20K, the price has corrected slightly down to the lower part of $19K.
This marks a special day in Bitcoin history, with the only challenge left is to officially break over $20K. That will be the highest price in Bitcoin history to date. The exchanges leading the market currently are Binance, Huobi, HitBTC, Coinbase, and OKEx, which announced it will be reopening withdrawals this week.
With the influx of new investors from PayPal to institutions getting in on the digital gold and store of value, if this keeps up we can still see a big jump, which we are estimating if it goes up it will peak between $22K-$25K on the bullish side. Speaking on the bearish side, if this is the top we can see a correction down to $13K-$15K, which isn’t so bad considering just a few months ago the Bitcoin price was around $10K.
Etheruem and other altcoins are making a run for it
ETH and XRP have gone up significantly, with XRP in particular going as high as $0.90 cents on Coinbase where it brought down the entire site, leaving speculators frustrated and angry.
Ethereum is still chugging along, reaching a new milestone of getting enough ETH staked into the ETH 2.0 deposit contract to trigger ETH 2.0 Genesis which will be on December 1st at 12PM UTC. This helped launch ETH over $600, with the current Ethereum price sitting comfortably at $610.36.
Bitcoin Cash has also been on a tear, hitting a high of $370.21 on Gemini exchange, and then correcting down to $350.