Bitcoin News

Bitcoin Price Soars Above $14K, First Time Since Whitepaper Release in 2008

Bitcoin (BTC) price soars high, reaching a bullish price of over $14,000 for the first time in over twelve years.

Bitcoin (BTC) is one of the most famous cryptocurrencies in the digital space. It is one of the favorite cryptocurrencies by many. This is also due to its bullish uptrend function in breaking its $14,000 resistance level on October 31. This is the day Satoshi Nakamoto released the whitepaper of Bitcoin in 2008.

Moreover, last week Bitcoin had spiked above $13,000, which is the first time since January 2018. After six weeks it reached an all-time high of around $19,800. According to CoinGecko, Bitcoin (BTC) was trading at a high price of $13,843 with a 24h growth rate of $29.7 billion, at the time of writing.

BTC Price Chart 1-Month (Source: TradingView)
BTC Price Chart 1-Month (Source: TradingView)

The 4th, 8th, and the 12th anniversary of the Bitcoin whitepaper are more special than other anniversaries. It coincides with a post-halving cycle, as the recent halving occurred in May 2020. The historic prices of Bitcoin on whitepaper day have seen substantial growth over the past decade. 

CoinCorner CEO Danny Scott Tweet
CoinCorner CEO Danny Scott Tweet

As Bitcoin (BTC) spiked over $14,000, Binance traders began to sell huge amounts of Bitcoin (BTC) in a short period. Moreover, Binance is one of the leading cryptocurrency exchanges that operate the largest Bitcoin and altcoin crypto in the world by trading volume. 

Despite the COVID19 pandemic situation Bitcoin (BTC) remains to be a cryptocurrency that consistently maintains its reputation. The NewsCrypto team expects an extended uptrend as there is a lack of objective to sell bitcoin from investors.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.

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