Bitcoin exceeds $16,000 for the first time since 2018

Bitcoin He’s having a great time. Great proof of this is that, almost three years after its biggest bull run, in January 2018, This Thursday it exceeded $16,000.

Over the past few weeks, it has been the subject of a continuous rise that has caused Bitcoin to achieve a rebound that manages to maintain a sustained upward pace. It also contrasts its positive performance with the situation experienced by the top 15 altcoins. In fact, only Bitcoin (BTC) has maintained positive numbers, beyond stablecoins and the ERC20 token, a version of Bitcoin launched on Ethereum.

This news confirms a growing trend, with Bitcoin rising as altcoins lose value. The BTC rally has been notable in recent times, experiencing a 40% growth in the last 30 days. At the beginning of this period the value was around $11,500, so despite its volatility

Speculation on an all-time high

The rise and trend of bitcoin has led many to speculate that it may be reached short-term all-time highs. This is what different analysts believe, who consider that it is possible that it will reach surpass $20,000 soon. However, it is also believed that this would occur after having undergone a new correction.

In the midst of the coronavirus pandemic that has caused a major global economic crisis, it has made many see digital assets as a good way to invest their money, especially thinking about the long term.

This new prediction that invites us to think about new historical highs coincides with those that some dared to promulgate at the beginning of 2020. At that time some experts such as the analyst Bob Loukas, creator of The Financial Tap, assured that it was likely that bitcoin would be close to these new milestones by the end of the year. However, at that time it was difficult to predict that a global pandemic would happen that would mark the course of society and markets.

Although bitcoin had a hopeful start this year, with a month of January that was better than in previous years, precisely the arrival of the pandemic put its bullish momentum in serious trouble. In fact, in the month of March he suffered a major drop, from which it has managed to recover progressively to its current situation.

More institutional investors

The increase that has occurred steadily in recent weeks has coincided with the greater interest of institutional investors in Bitcoin. According to different investors, this asset could be a reliable haven asset, just as he is gold, given a possible eventual fall of the dollar.

In fact, this devaluation in the American currency could occur not too late according to different specialists and could occur in a period of 3-4 years. Different companies have highlighted their benefits, in some cases reaching 80% of them thanks to the appreciation of the main cryptocurrency in the market since they made their investment.