Crypto Twitter celebrates Christmas with a new Bitcoin milestone

The price of Bitcoin is over $24,600 at Christmas while the crypto Twitter explodes with euphoria.

Crypto Twitter celebrates Christmas cheer with a new historical record for Bitcoin Lifestyle culminating a tremendous year for the digital asset.

Bitcoin’s price reached a peak of USD 24,661.76 at Bitstamp, surpassing the previous record set last week. The altcoin market also recovered, with Ethereum (ETH), Litecoin (LTC) and XRP registering impressive increases.

Bitcoin’s biggest supporters turned to Twitter to celebrate the new milestone and to remind their followers to keep waiting as the new year approaches. Gemini co-founders Cameron and Tyler Winklevoss have expressed some enthusiasm:

„Merry Christmas! Santa left us $24,500 for #Bitcoin under the tree.

„Merry Christmas! No coal this year, $24,500 for #Bitcoin instead.

Mike Novogratz hopes that the Biden administration will reverse Donald Trump’s anti-cryptomoney stance

Bitcoin’s historic peak is giving Morgan Creek Asset Management’s Anthony Pompliano extra energy for Christmas Day:

„Bitcoin reaches a new historical record on Christmas Day, that’s the energy I’m here for.

Bitcoin and Black America tweeted about the new digital asset high saying, „Merry Christmas, you filthy animals.

Galaxy Digital CEO Mike Novogratz also celebrated Christmas by admiring a bright moon, which is a direct reference to Bitcoin’s meteoric rise.

„Favorite gift. The moon“.

MicroStrategy CEO Offers to Share Bitcoin Strategy Book with Billionaire Elon Musk

The crypto data analysis firm Bloqport celebrated Christmas with a GIF from Michael Saylor raising a glass to Bitcoin:

„#Bitcoin breaks all-time highs. Merry Christmas!“

Robert Breedlove, author of Thank God for Bitcoin, had a more serious message to convey to the community at Christmas:

„Bitcoin encourages patience and reflection.

Fiduciary currency induces hasty and misguided investments to overcome inflation.

In what world do you want to live: one in which capital is allocated with patience and consideration, or one in which it is allocated feverishly and maniacally?“

BitGo’s assets reach $16 billion as institutional adoption grows

Su Zhu of Three Arrows Capital also reminded the forks to keep holding:

„Hodl Jo Jo Happy holidays to all!“

The YouTuber Crypto Daily commented on Bitcoin „rebounding during an illiquid holiday,“ which is a testament to the upward potential of digital currency. „USD 100,000 is FUD now,“ he said.

2020 will be a historic year for Bitcoin. While many institutions have been claiming for years that „institutions are coming,“ this year finally delivered on those revelations.

Crypto sector: These three trends can be identified for 2021

The year is drawing to a close, so the question is what will fundamentally change for the crypto sector in the coming year. The last Friday comment for this year should therefore outline the three biggest changes and make forecasts.

1. Institutional investors take the helm

In the last half of 2020, an expectation of the last few years was finally fulfilled: institutional investors have discovered the crypto market for themselves and, with their inflows of billions, are ensuring unabated price increases for Bitcoin. Almost every day there are new reports from hedge funds, asset management companies and companies that are pumping two or three-digit million amounts into the crypto market.

As much as this may please one or the other Bitcoin Profit investor, it also means, conversely, that the rules are now being made by the professionals on Wall Street and City of London and no longer by private investors or native crypto companies. Compared to regulated futures and options exchanges such as the CME, CBOE or Bakkt, crypto exchanges are thus becoming less relevant. After all, the new institutional investors do not trade with tokens at Binance and Co., but rather via futures on the aforementioned derivatives exchanges. Crypto traders will therefore also have to adapt their analysis methods in 2021.

At the same time, public opinion is shaped more strongly by the old economy. After all, it is their analysts and company spokesmen who classify the situation on the crypto markets.

The new medium of tokens is transferred to the corset of the old world by building appropriate indices and securitizing digital assets in securities certificates. The situation is increasingly reminiscent of German car manufacturers. Although we know that electric mobility is the future, we still cling to combustion engines and build hybrid vehicles as a compromise.

2. Regulation leaves no stone unturned

With the arrival of the old economy in the crypto sector, the rules of the game are also being adapted. Everything is becoming more regulated, the free spaces are becoming smaller. Already in 2020 warnings from politics were often heard that they were ready to heavily regulate and, if necessary, ban crypto currencies and, above all, stablecoins. In 2021, the fight against anonymity in the crypto space will be announced, as was recently emphasized and partially implemented by the G7 and above all France .

Laws on KYC are passed across states in the interests of each state. In particular, digital central bank money (CBDC) and stablecoins such as Facebook’s Diem, formerly Libra, will usher in a new crypto age in 2021. Also worth mentioning here is PayPal, which will continue to roll out its existing crypto service in 2021. Corporations are taking back control of the crypto market and user data in coordination with the states – this is the compromise for the green light.

Greater consumer protection, greater user-friendliness, rising prices due to more and above all professional market participants are the positive sides of this change. On the other hand, decentralization and the crypto narrative are turned inside out. In 2021, control will go back to some extent from the end consumer to the state or corporation. After all, it is primarily custodial wallets on which Bitcoin and Co. are stored. The user is therefore giving up access to the crypto offers of the newer hour more and more often. 2021 will therefore be a downright sad year for advocates of high privacy.

As a consequence of this regulatory offensive, a stronger counter-movement will slowly form in 2021, which is fed by the DeFi ecosystem. When it comes to really decentralized protocols, be it decentralized credit networks (crypto lending) or decentralized stock exchanges (DEX), authorities and corporations break their teeth. A decentralized DeFi ecosystem does not fit into their regulatory concept and will therefore increasingly offend. If not yet in 2021, this will lead to a massive regulatory conflict. The current discussions about Diem, on the other hand, should seem harmless. Before that happens, the DeFi sector has to grow significantly first.

HODLers move 200,000 BTC from 2013

Bitcoin dinosaur awakes: HODLers move 200,000 BTC from 2013

Bitcoin price rises sharply in price and can record price gains. The picture shows a price curve and stacked Bitcoins.

Recent data from Unchained Capital an Crypto Trader show that old Bitcoin dinosaurs from 2013 are apparently using the current time to move a large part of their BTC. In this article we want to take a look at the so-called HODL Waves and understand what is actually behind this term.

Bitcoin stocks to move again between 2013 and 2015

Especially in the world of Bitcoin, the „buy and hold“ mentality is very strong. In the classic financial world, one speaks of an investment behaviour that is characterised by buying an A share and then holding it for a long period of time.

In the crypto world we call this phenomenon HODLen. It is not uncommon for investors to choose an investment horizon of several years and thus consider Bitcoin as a long-term investment.

A recent analysis by Unchained Capital now shows that Brund 200,000 BTC, which were inactive for 5 to 7 years, were moved in the current price rally.

Nearly 1% of the total supply of #bitcoin moved out of long-term storage (>1 year in the same address) during the price run-up from $13,700-$19,670 in November.

61.43% of the supply of bitcoin has not moved out of long-term storage (>1 year in the same address) during the price run-up from $13,700-$19,670 in November. #HODLwaves, h/t @glassnode

– Unchained Capital (@unchainedcap) December 3, 2020

So, as the chart above shows, some investors have moved their „old“ Bitcoin. From the current perspective, the early investors were able to make enormous profits with BTC.

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Profit taking from long term investors

For example, the Bitcoin price was between USD 134 and 1150 in the period from 2013 to 2015. This means that those who invested in the crypto currency 7 years ago could now record profits of around 1500 up to almost 14,000%!

The following chart now shows the Bitcoin UTXO chart

If you have never heard of the term and are looking for a detailed explanation, we recommend the article on Bitcoin UTXO.

Due to the recent movements, the picture of the UTXO Age Distribution is shifting. Above all, this shows that some investors have probably not „lost“ their Bitcoin, but were deliberately waiting for a renewed price increase.

While some analysts still assumed in 2018/2019 that many Bitcoin would have had to be moved in 2017 with the all-time high at that time, we now see that investors were probably waiting for another bull run.