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Bitcoin’s $16K Explosive Gain Excites Crypto Enthusiasts

Last Updated on February 1, 2021 by Ope Quadri

Cryptocurrency enthusiasts are excited around the world following bitcoin explosive gains, trading above $16, 000 USD at the time of this report on major crypto trading platforms globally currently sitting at $16, 210.

The recent gain in less than 14 days is the highest ever since the existence of the most valuable digital asset.

Crypto analytics platform Messari described the BTC gain as exponential. In its data it says closing price had exceeded $16,320 only on 12 other days, 10 of which occurred from December 7 to 20, 2017, with the highest close occurring on December 16 at $19,378. Any investor who bought at the all-time high of $20,089 would still be down 18.35%.

The Messari data shows that investors as low as $3,126 on December 15, 2018, would be gaining at least 424%.

To a billionaire investor in the United States, Stanley Druckenmiller, bitcoin will outperform gold in the long run.

Excitement on Social Media

Excited about the new price (the first time bitcoin is breaking above $16,000), some bitcoin investors say it’s not too late to join the train.

The price of the bitcoin price is known to have a huge driving force on ethereum, BitcoinCash, Litecoin, Chain, and other altcoins.

Preston Pysh tweeted, “But professor… When you told me #Bitcoin was a Ponzi scheme you left out the part about the four-year halving cycle and two-week difficulty adjustment… How does that work?

Forecasting the impact of the U.S election would have on the price of bitcoin, Max Keiser said, “By the time the current White House drama resolves, several sovereign currencies will have collapsed and 25% of the global economy will be on a #Bitcoin standard”

Jason Williams who is optimistic stated that bitcoin price could surpass all predictions before the end of 2020.

“Looks like a really possible that we have a new price ATH in USD for #Bitcoin by December 31st, 2020. That would be a nice ending to 2020 and a great way to start the New Year! Send it.”

A father of a newborn baby is rather dramatic in while posting photo of his new baby by encouraging the btc lovers to donate for his kid.

“Super excited to welcome the newest addition to the family. Family is everything & I wish this happiness for everybody out there. If you want to send us a gift, I set up a #Bitcoin wallet for him that he won’t touch until he is 20,” @TheRealTahinis

Another Twitter user Denver Bitcoin said he is happy that he took the decision on bitcoin a few years ago.

“I can still hear the laughter from my bosses in the Oil & Gas industry when I proposed the idea of mining #bitcoin by generating power off of stranded natgas in 2018. Price was $5800 and falling. So I quit, went and raised capital, and did it anyway. The last laugh is mine.”

At the time of this report, btc was still sitting at $16,210 with $300,507,104,378 market capitalisation, according to coinmarketcap data.

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