New 2020 Bitcoin Record High As It Hits $13k

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Last Updated on 22 October 2020 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Bitcoin wasted no time after the $12k threshold was passed and steamed on to $13k with one go. For 2020, Bitcoin already set a new record and at the time of writing it is trading at $12,837, surpassing its previous record of $12,476 which it reached in August 2020. The dog days of September are a distant memory.

All major platforms saw heavy gains on Wednesday after payment processor PayPal announced its entry into the crypto market and Wall Street investors took further notice.

Satoshi Nakamoto’s cryptocurrency is by now breaking all kinds of records. Not only has it stayed above $10k for some 87 days straight, it is also up more than 70% for the year, beating many other investment goods in it’s run.

Advertentie.

Records broken

The 2019 all time high of $13,796 looks in sight and even the 62 days above $10k run of the most famous crypto in 2017 is a thing for the past. 2020 is proving to be a stellar year for Bitcoin even though many would have thought differently when they saw that 50% drop in a single day back in March.

In retrospect, it now seems that Edward Snowden’s famous comment on 13 March, when Bitcoin traded near $4k, was indeed a buying opportunity.

He at the time stated:

This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.

Anyone who followed Edward’s advice would have gained some 300% since then.