Sunday, November 27, 2022

New Bitcoin Price Moonshot — $2,000 Now a Reality, What’s Next?

New Bitcoin Price Moonshot —  $2,000 Now a Reality, What’s Next?

The bitcoin price has now broken through the $2,000 USD barrier on Coinbase. It continues a series of price records and surprises for much of the cryptocurrency world.

Also read: Jihan Wu: Bitmain Office Vandalized by Bitcoin Core ‘Storm Trooper’

Bitcoin Price New $2,000 Landmark

At press time, the Coinbase price was around $2,033 and still rising. $2,000 represents a massive psychological landmark — and while not a binding rule, it is likely to have an impact on bitcoin’s future value.

bitcoin priceBitcoin has also been above $2,000 on Bitfinex for the past few days and remains just above Coinbase’s price. However, due to that exchange’s current withdrawal and remittance problems, Coinbase is the most popular option for US-based customers.

Bitstamp’s USD price remains just under $2,000 for now. If the Coinbase price continues to rise, though, Bitstamp is likely to follow suit.

The latest rise follows just one day after bitcoin topped $1,900 USD. The most interesting aspect of its latest rocket ride is that many predicted a loss of confidence stemming from disagreements over the scaling debate.

Indeed, other cryptocurrencies have also benefited from the surge of new money — such as ether, dash and monero. Litecoin, on the other hand, has risen only a short way despite recently activating SegWit on its network.

Where’s the Money Coming From?

Whatever and whoever is causing these rises appears to care more about each currency’s price potential and less about technical and mining aspects. One theory is a new flurry of investment activity from Japan, where new regulations legitimized bitcoin starting in April.

However even before those new laws were enacted, bitcoin was already above the $1,200 USD mark. It’s possible that simple longevity of the networks does more to prove bitcoin’s worth than any government activity.

Traders and amateur investors will likely be watching price charts closely for profit-taking and further increases. What’s certain is that bitcoin is heading for new and uncharted territory from here on.

Where does bitcoin go from here? What price is considered “moon” level? Let’s hear your opinions.

Image via Pixabay

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