Bitcoin continues its extraordinary momentum. After an ATH that has been safely overtaken, the first-born of cryptomoney doesn’t seem to be ready to stop. Bitcoin is now trading for over €20,000. Happy Holidays!
The price of Bitcoin against the euro in weekly
The momentum we are experiencing is typical of this market. The price is currently in ATH, in „price discovery“. Historically, this momentum has always been followed by periods of very strong, volatile, and more or less sustainable (6 to 12 months) acceleration, commonly known as „speculative bubbles“. And we might as well tell you that after 3 years of roller coaster ride, we are just waiting for it!
However, let’s note that if the price of Bitcoin is on the rise, this is not the case for the rest of the market, which remains undoubtedly divided into two asset classes: Bitcoin & the rest, the famous „Altcoins“ for „Alternative Corners“. The latter are totally undergoing the crazy rise of Bitcoin.
Remark: in this graph, we find in particular the price of Ethereum which does not depart from the rule, it undergoes.
The rest of the cryptocurrency market is not taking off (weekly view).
Bitcoin is currently trading at €22,750.