Bitcoin reached a new all-time high on Wednesday, December 30. The Cryptocurrency was over $28,900 (about 574,000 Mexican pesos). Since last December 12, this represents a rise of over 60% in its unit price.
Due to data from CoinMarketCap and Glassnode, Bitcoin (BTC) costs up to $ 28.925, in the last 24 hours. For its part, the site specializing in cryptocurrencies Coindesk registered a maximum of $28,969.
Nevertheless, the price of Bitcoin did not sustain at that all-time high for a long time and continues to vibrate. Minutes after exceeding $28,800, it had a slight pullback to almost $28,600. But it quickly rebounded, climbed higher, and did not fall below that drop.
On December 12, the price of one bitcoin was about $17,650. On the 16th of the same month, the $20,000 barrier broke and has not stopped rising since then. This translates into an increase of nearly 64% in just 18 days.
Is Bitcoin going to hit $ 30,000?
According to the most recent report by Glassnode, a company that examines the behavior of cryptocurrencies, Bitcoin has a bright future thanks to the few units commercially available.
Only 22% of the existing bitcoins would actually be part of the market. Even so, a larger number of big investors are obtaining cryptocurrency as a store of value. In calculations, those constantly moving BTCs are only 4.8 out of the more than 18.5 million in existence.
In recent months, researchers noted a decrease in the number of Bitcoins in motion. Fewer and fewer companies are ready to sell their bitcoins. This suggests that the current bull market is driven by the staggering amount of illiquidity.
The research, therefore, concludes that the lack of BTC on the market foresees a future upward trend in crypto-monetary prices. That is, the lower the supply of the units that circulate, the more valuable they are. Specialists expect to achieve $30,000 per unit soon.