Bitcoin one step away from the historical maximum, is a correction coming?

Today, the market-leading crypto, Bitcoin, once again stunned investors after hitting over $19,000 for the first time since 2017.

Will it break its historical high? Or is a correction in store for you?
Bitcoin scales the skyscraper

At the time of writing, the price of Bitcoin remains above USD 19,000, achieving a cumulative increase over the last three months of 66%. However, it seems to be showing signs of recession.

We’d all like to know exactly what Bitcoin’s next move will be. Is it time to invest?

It seems that everything has been happening very fast, however, Bitcoin has been climbing the skyscraper little by little since Black Thursday in March. Obviously, many crypto-investors are afraid that the history of 2017 will repeat itself, but the set of circumstances that drive it are completely different.

Meanwhile, gold has been running down since August and seems to be moving towards a balanced relationship between buyers and sellers.

However, according to CoinTelegraph’s Joseph Young, based on several data points in the chain, there is quite likely to be a reversal in the price of the leading crypt.

Young evaluated the Spent Output Profit Ratio (SOPR) indicator, stablecoins entries, stacked sales orders at USD 19.00 and the Crypto and Fear Index.

So, although Bitcoin could soon break its historical high, we could see a price decline. Watch out!

Bitcoin Continues Upward Trend Above 18K

Together with Bitcoin, Stellar crypto and XRP are added to the bullfight

Stellar (XLM) has increased by 58% and Ripple (XRP) has experienced a 33.39% increase over the last 24 hours, according to CoinMarketCap.

And, it’s not just these, other altcoins have been experiencing an interesting upturn from the Bitcoin bull run.

In fact, according to TradingView, the price of XRP reached USD 0.92 for less than a minute earlier today.

Stellar’s Rise Makes it Gain Over 50% in Last 24 Hours

Bitcoin Trade at Binance Reaches a High

Bitcoin’s bullish run has led the entire crypto community to live in the moment. Thus, both the total trading volumes and the open interest in Bitcoin futures at Binance have reached historical highs.

According to The Block, the daily volume of Bitcoin at Binance has reached an all-time high, surpassing the previous high set between late 2017 and early 2018.

Coinbase also experienced a significant boom, however, it has not yet managed to surpass its historical maximum crypto.

Here’s why Dan Schulman, PayPal’s CEO, believes in Bitcoin and crypto

Turning Point in Bitcoin Crypt History

Christine Sandler, head of sales and marketing at Fidelity Digital Assets, explained during the Unchained podcast that factors such as the pandemic and productive regulation have helped the leading crypto this year.

Therefore, Sandler considers that 2020 has been a key year for Bitcoin adoption. So much so that Fidelity is considering opening its services to retail investors at some point.

„What we did see in 2020 was a wider adoption of that digital gold narrative, it began to resonate with other institutional investor groups, namely hedge funds, ultra high net worth individuals and later family offices,“ said Sandler.

Tom Fitzpatrick: „Bitcoin will pass the $300,000 mark“

Crypto update ETH 2.0 confirmed

Since the launch of the ETH 2.0 deposit contract on November 4th, the developers have experienced hard moments of suspense. However, today, with 94% of the goal accomplished, the launch of the crypto update was confirmed on December 1st.

  • For some weeks, observing the low level of participation of the crypto community, many questioned the possible launch.
  • However, in an unexpected turn of events, more than 200,000 ETHs were sent in 14 hours.
  • The launch of Ethereum 2.0 was confirmed for December 1st, a few hours before the deadline
In a few lines…

PayPal plans to expand its crypto services in 2021.
Brett Tejpaul, Coinbase’s Head of Institutional Coverage, said institutional investors‘ interest in crypto has tripled.
SBI will borrow a minimum of 0.1 Bitcoin to a maximum of 5 Bitcoin at an annual interest rate of 1% starting today.
Crypto exchange Binance sent mail notifications to crypto users in the US informing that in 14 days their account will be suspended, according to Decrypt.