|Bitcoin is now recording a return on investment of 72 percent in 2021 alone. Since recoding its 2020 low of $3,800 as of March, the cryptocurrency has also provided a 1200 percent ROI. |
The price of BTC had a great year. The cryptocurrency barely broke $13K in middle October, following the thrilling reports from PayPal, starting around $8,000 in 2020.
It was back then that the 2020-2021 parabolic change began. Only two months later, Bitcoin broke the former all-time high of $20K, and the spaceship was taken to the moon by the primary cryptocurrency.
Bitcoin left $30K behind on the second day of 2021. It just took 5 days then, and on January 7, 2021, BTC broke $40,000 to a new all-time high set at $42K on January 8th. After that, Bitcoin charted a 30 percent correction to retest the levels below $30K. During the 2017 bull market, this sort of correction was typical.
Last Monday, the giant announced a January purchase of Bitcoin worth $1.5 billion. The cryptocurrency spiked instantly at $42K above the January 8 ATH, recording its largest daily candle ever.
According to cryptopotato.com, it is interesting to remember that the growth in the price of Bitcoin over the past few months has driven the whole industry upwards.
Major altcoins have charted serious gains as the total market capitalization currently stands at over $1.5 trillion.
While dismissing the possibility of bitcoin (BTC) displacing the U.S. dollar's reserve status, at least for now, for policy makers, "the best reason to...