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Bitcoin Sets Another New All-Time High Above $24,000

Ever since the world’s largest digital currency in terms of market capitalization Bitcoin (BTC) jumped above the psychological level of $20,000, it has not slowed down and is continuously moving ahead with its uptrend. It was a big movement for the flagship cryptocurrency to get through the resistance of $20k but what it did after getting this breakout is genuinely remarkable. With a constant upward price movement, the primary cryptocurrency has set up a new all-time high value.

BTC Price Breaks Above $24K

On the 19th of December, the first-ranked cryptocurrency once again spiked high and recorded a new all-time high by breaking above the bullish price figure of $24,000. The price of BTC surged as high as to reach $24,085 which is the new all-time high value for the leading digital currency now.

Bitcoin is still trading very bullish at the moment and is carrying on its bullish price rally. The price value of the coin is up by more than 5 percent over the past day while trading at around $24,000, at the time of writing. At the moment, the coin is trying to settle above this level.

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The month of December seems to be special for Bitcoin. The last time it was the month of December when the dominant cryptocurrency started its bullish cycle in 2017 and recorded its all-time high value at around $19,800. And Bitcoin has broken its all-time high value in December as well and has made the new one. Bitcoin has consecutively smashed through new all-time highs by breaking $20k, $21k, $22k, $23k, and now $24k respectively. It has happened for the first time in the complete history of Bitcoin that the coin has crossed these five crucial price levels in a row.

Bitcoin’s Market Cap Also Nears $500 Billion

Bitcoin is not only making records in its price value rather its market capitalization is also skyrocketing alongside. After surpassing the milestone of $400 billion for the first time, the market capitalization of Bitcoin is now heading toward achieving the next big milestone of $500 and has come closer to it.

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According to the data of CoinMarketCap, the market cap of the top-ranked digital currency is standing at around $443 billion at the moment. Where its market cap is targeting the $500 billion mark, the price value of BTC is now eyeing the next resistance of $25k.

MubaShar Nawaz (United Arab Emirates)

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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