November 13th saw Bitcoin reach $16,415. A magnitude not reached since the infamous 2017 bull run. With prices of this level now coming in to play, Bitcoin is further cementing itself as one of the best operating assets and is continually outperforming the ‘safe haven’ investments we all love and cherish. With Bitcoins price hovering around the $16,000 mark, the market sentiment is now incredibly favourable.
Since 2019, Bitcoin has been the number one in the YTD ranking of returns in multiple asset classes such as gold, stocks and real estate. Not by a small amount though, but tremendous margins. Since last month the spot volume has risen more than 270% and the digital powerhouse is altering the way retail investors and big institutions view the world of digital currency.
A great quote was shared by Cointelegraph to perfectly sum up the current market sentiment of BTC:
“Looking for validation that Bitcoin whales are confident in their assets? The number of addresses holding at least 10,000 $BTC has just matched a 2020 high of 111. Additionally, those with 1,000-9,999 $BTC are now just 6 below the ATH of 2,135 wallets.”
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Author: Henry Wright
Not financial or investment advice, always do your own research.