Bitcoin price exceeded $22,000 for the first time

For the first time, the bitcoin price reached the historic $22K mark.

During trading on the Binance exchange, bitcoin’s value increased by more than 13%, to the level of $2,077. As of 9:40 Moscow time, the value of the cryptocurrency was at around $22,100.

Bitcoin has risen sharply since hitting an all-time high and is now trading above $22K. I expected some correction, but, apparently, that consolidation in the range of 17.5-19.5 thousand dollars was the period when the profit was recorded.

Mansur Huseynov, independent expert

He expressed confidence that growth will continue if “within one or two days, there is no sharp rollback below $20,000.”

There may be several reasons for such rapid growth, says Nikita Zuborev, senior analyst at Bestchange.ru. For example, the sharp rise in bitcoin could be influenced by the decision of the Chicago Mercantile Exchange (CME), which announced on December 16 that it would add Ethereum futures in February 2021: the decision was due to the growth in the Bitcoin futures and options markets.

Also, two large investors previously came to the market: the Ruffer investment fund with assets worth $27 billion invested $15 million in the first cryptocurrency. The American company MassMutual bought 5,470 bitcoins for $100 million.

Bitcoin now accounts for approximately 64.7% of the entire global cryptocurrency market.

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