Bitcoin All time High $23k : What is secret of this High .

[maxreish]

Last few months some speculators already predicted that new ATH for bitcoin will gonna hit at the end of 2020. Perhaps possible reason was that of  halving event that took place thia year.

There is actually many reasons for that bull market but I'm pretty sure the demand and supply has been affected much so the price of bitcoin touched up $23k. Or big investors has an impact for this big climb up of price.

[poodle63]

It's mainly because everywhere trying to adopt crypto more specifically investment firm now targetting crypto to diversify their portfolio as well as reaping potential profits out of it.
It's no brainer if the price could go this high becasue the demand is there and not some measly amount of money, we are talking about billions here and that comes from the US alone.

Imagine if all the other world following the hype and more demands going to the crypto market. $23K is just stepping stone for $100K

[TheUltraElite]

When we try to analyse and see what is the cause of this massive rally that we have seen lately, it's really hard to answer. So it boils down to the basic supply and demand. There are many buyers in the market and obviously, the price continue to rise. Perhaps the maturity after the bitcoin halving is now showing and then we have big companies investing as well, it's a combination, but basically, supply and demand factor.

No single reason is enough and no reason is absolute in this sector either. There might be bull runs due to specific reasons or just speculation. As per my observation the second one becomes stronger because of FOMO and the price goes way beyond buying levels and then drops to lower levels.

The thing traders do now is sell and then wait for it to go back down. This will happen and is the thing of utmost importance despite what newbies might think. Keep cycling the money. Dont keep on holding if you are looking to profit. If you don't sell and keep thinking about reasons you will only waste time. This is the time to catch the cycle.

[bitzizzix]

Many thought the increase in bitcoin would reach 20K at the end and beginning of the year, it turns out that mid-December bitcoin has reached more than that which in my opinion is very extraordinary.
The significant increase in the price of Bitcoin occurred because of the high demand for digital money, especially buying Bitcoin is now as easy as PayPal which provides a Bitcoin payment feature.
In addition, a number of large institutional investors expressed interest in buying Bitcoin and several large companies invested very large amounts.

[ven7net]

I am Not Understanding This high

17th December In Morning $22k When I Check in Noon Time $23K It Super High. 

Why do you think this is a high price for BTC? Personally, I expected that it was by the end of this year that BTC should have reached its previous maximum and go higher. This is due to the trend that has developed in the crypto market over the period of its existence. Since there is a cyclical development in the crypto market, 2021 should be the last year in this cycle and the price of BTC should become the maximum, but for this, the price of BTC had to return to the previous maximum, which she did. I believe that everything will go according to plan, but the time will show how it goes on.

[Lucius]

Ask me, I cant give a straight answer to any such speculative question, some trading "analyst" might be able to give better answer.

Three words - Money - Supply - Demand

Money -> Look at the following table, almost $19 billion in total has been invested in Bitcoin by all the listed companies. Such an amount of money in a very limited market must make a shift, there is no doubt about it.

Supply - > Halving is starting to show its effects, only 900 BTC per day means that the quantities that disappear from the market are far greater than the production. There is no speculation, the point is completely clear - unlike fiat, which can be printed while there is paper and ink, let someone say that it will produce ten times more BTC per day and thus affect the price.

Demand -> If you look at the same table, all these companies have sucked out of the market 4.54% of max BTC supply, and apparently do not intend to return it to the market so soon.  That amount is likely to increase even more, and I wouldn't be surprised if it's at least x3 by the end of next year.

[blckhawk]

I am Not Understanding This high

17th December In Morning $22k When I Check in Noon Time $23K It Super High. 

Well, there's a lot of possible reasons but we don't know what it is exactly like this could be a FOMO. After breaking the $20k resistance and Bitcoin is now increasing once again people tend to panic and purchasing Bitcoin for they not to miss the opportunity of the rally. Perhaps everyone thinks that Bitcoin will now plunge since Christmas is coming and they thought that a lot of persons will try to liquidate but they all got wrong and now they are procuring the coins that they have sold.

[sana54210]

There is really no big secret to why bitcoin went up, there was a huge bull run to get us closer to $20k for first, after that there was this huge hype after the break of all time high, when we broke over that rest was easy, everyone just got excited and the higher price went the higher it continued to go up, that was the result, I can't say why people got this much hyped about the price after the ATH because it was already close few times, even above once and nothing happened, whereas it went up superbly high later on, for no reason at all.

I can't say any secret, and I can't point out to "this reason or that reason" type of situation, it was just a pure hype and we all wanted to buy bitcoin and we did and price went up, that was it. I am quite happy about it tho, like it could have no reason at all and I would be still pretty happy about it.

[TravelMug]

I am Not Understanding This high

17th December In Morning $22k When I Check in Noon Time $23K It Super High. 

Well, there's a lot of possible reasons but we don't know what it is exactly like this could be a FOMO. After breaking the $20k resistance and Bitcoin is now increasing once again people tend to panic and purchasing Bitcoin for they not to miss the opportunity of the rally. Perhaps everyone thinks that Bitcoin will now plunge since Christmas is coming and they thought that a lot of persons will try to liquidate but they all got wrong and now they are procuring the coins that they have sold.

And it also means that the whole bitcoin narrative has change. Yes, FOMO could be the main driver, but if you have to look at the reasons: bitcoin is not the best assets that even companies and well known personalities are speculating or investing on bitcoin.

It's normal to liquidate assets this holiday because people might be thinking of buying holiday gifts, but then again buyers are just on the side waiting for those weak hands to sell, that's why the price is never been affected by the holidays and on the contrary, keeps pumping up to $25k or even more.

[JooBra]

With all being sad BTC is not looked the same like 3years ago when it was near 20k. Now people look BTC like investment or like gold... More or less safe investment over longer period of time. That was not the case for most of the people.

[palle11]

17th December In Morning $22k When I Check in Noon Time $23K It Super High. 

Bull times are not explainable, they take you by surprise even closing your eyes to open it will have a big increase. It has been history too in 2017 when the last ATH that happened. Around November was a very strong wave time that happened in bitcoin price till December came. I'm not surprised for that you say. It is not understanding with bull time move, just keep enjoying it 

[Hamphser]

I am Not Understanding This high

17th December In Morning $22k When I Check in Noon Time $23K It Super High. 

Secret? = Theres no Secret but this do talks about "ADOPTION"

This is the very main reason on why we are seeing these numbers and we would able to see new ones if this adoption thing will go even more higher.
We do hope for global acceptance but we know in reality that it cant just be possible because there are places on the world seeing bitcoin as an illegal stuff.
The important thing here is that we are still continuing to grow inspite of those blockage we've seen.

[john1010]

In every crypto market movement, I always look the possibility that there is someone behind it, (of course the whales) They do it to manipulate the market and attract more new comers to invest in cryptocurrency, but we never deny the fact that the holders who are bought in a low price will enjoy the benefits of it.

[goinmerry]

I am Not Understanding This high

17th December In Morning $22k When I Check in Noon Time $23K It Super High. 

From now on, you have to be used to seeing that. Crypto is volatile and even a surprise crash out of the blue can also happen.

No need to actually know what's the reason behind that.

But if you are really curious, you can check some speculations or articles with the help of Google search or your preferred search engine.

[TheUltraElite]

In every crypto market movement, I always look the possibility that there is someone behind it, (of course the whales) They do it to manipulate the market and attract more new comers to invest in cryptocurrency, but we never deny the fact that the holders who are bought in a low price will enjoy the benefits of it.

News do move the market. The pump started with the Paypal news of allowing crypto in the marketplace. Now we know this news was being waited for a long time, almost made people anti-paypal because they never took notice of bitcoin or just plain shoved it under the table.

Whales started pumping it after this news sufaced and now we are seeing the biggest all time high after Q4 2017. Price also seems to remain under 23k USD for now so my next prediction would be the 25k USD mark being realistic.

You never know a dump might happen as well. The selling pressure was high before reaching this mark and it is possible that most sell orders got filled and cleaned.

[Question123]

The secret of this because many people buy a coin and most of us are positive thinking about bitcoin  so the value rise in that price. We broke again our record in the year 2017 and hoping more new record we achieve this time so the bitcoin will be trending again world wide and maybe soon we see the bitcoin in every stores because they accept it as payment for the customers who buy their products.

[buwaytress]

With all being sad BTC is not looked the same like 3years ago when it was near 20k. Now people look BTC like investment or like gold... More or less safe investment over longer period of time. That was not the case for most of the people.

It still isn't the case for most people. Just over 1% of the world's population have crypto wallets, if we take the most generous estimates and not believe that there're a lot of duplicates.

And don't always buy into the big welcoming news of people all accepting crypto (they're not, they're letting you pay your crypto to someone else to accept settlements in fiat).

So you're still early, no need to feel sad. Enjoy while it lasts.

[Fesatmas]

17th December In Morning $22k When I Check in Noon Time $23K It Super High. 

don't be surprised, because this is what is called the crypto market. where you will be amazed at many things. It doesn't even take a few hours, sometimes it only takes a few minutes to see a red signal, and a minute back to a green signal.

[justdimin]

I am pretty sure all those billions of dollars spent purchasing bitcoin by the corporations played a big role, but let's not underplay what we have achieved as well, the people of crypto has increased a lot and we have achieved a great deal of work here as well, we are the main reason why it is at all time high right now.

Also bitcoin has been low for a while now, it was obvious that it would go up, it didn't really take that long for bitcoin to increase all that much, we knew that it would increase, we just didn't know when it would happen, for the past 3 years we have managed to wait patiently until something big happens and in the end we managed to get back to levels we were, not like 20k was unheard of, and obviously after building a whole crypto system around the currencies, such as bigger companies and business' in the crypto world, we have gone a lot higher.

[XZERO1]

I don't think there's necessarily one reason behind this jump in price, but I believe one of the reasons could be the pandemic and the fact that crypto is so easy to use and make transactions with just having access to internet alone and also the fact that crypto is decentralized and not related to governments in any way helps its popularity even more.

In addition to that don't forget the fact that crypto after the pandemic started to follow US stocks, so as long as SPX/USD chart is not showing any signs of weakness you can expect Bitcoin to stay at these price ranges.