The price of Bitcoin has shot up to hit its highest price in a week. But can it target the elusive $20,000 mark?
It has been an eventful year for Bitcoin, which entered 2020 at approximately $7,000. In August, the cryptocurrency embarked on a record-setting bull run, increasing from approximately $11,000 to approximately $19,000 in November, representing a 72% increase in price over about three months.
Shortly after, expectations of an increase to $20,000 were crushed when Bitcoin’s price fell to the $17,000 bracket in December.
It has since regrouped, increasing from $17,881 on December 11, to today’s price less than $300 short of the elusive $20,000 barrier.
Will Bitcoin finally break new ground and reach the $20,000 bracket?