What does the bitcoin price fall through $20K mean?

The price of bitcoin has fallen through $20,000, marking an important milestone in the ongoing collapse of cryptocurrency. It means the value of bitcoin is lower than it has been since 2020, and represents the point at which many analysts had expressed concerns that sentiment could continue to spiral.

What is bitcoin's new all-time high?

Bitcoin has hit a new all-time high breaking through $20,000 (£14,800). The volatile virtual currency has gained more than 170% this year amid stock market turmoil. On Wednesday Bitcoin jumped 4.5% to as much as $20,440 buoyed by demand from large investors keen on its potential for quick profits.

Is $20,000 a sign of a revival in crypto?

Still, the crypto – which topped $65,000 in November 2021 – remains near the low end of a brutal bear market. Indeed, $20,000 “once [was] deemed a disturbing low but now potentially represents a sign of a revival,” according to Craig Erlam, senior market analyst at foreign exchange market maker Oanda.

Is bitcoin still a bear market?

The largest cryptocurrency by market capitalization started the week near the $17,000 mark after hovering in the mid-$16,000 area since mid-December. Now at $20,250, bitcoin has gained more than 20% in the opening two weeks of this year. Still, the crypto – which topped $65,000 in Nov. 2021 – remains near the low end of a brutal bear market.