What Is Peak Bitcoin Anyway?

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All eyes are on Bitcoin (BTC) as investors bet on whether the flagship cryptocurrency has enough gasoline in its tank to hit a new all-time high (ATH) this cycle. Incidentally, this threshold means different things for different people and companies, depending on who you ask.

The all-time high ranges from below USD 20,000 to above the psychologically important level in the most bullish record books. As of the last review, the BTC price on CoinMarketCap is USD 19,303. And although it took three years for the leading cryptocurrency to approach this milestone, the uncertainty surrounding the top price is a reminder of the origins of the industry.

If you want to learn the all-time high for the Dow Jones Industrial Average, you will find it reached a peak of 30,000 today. The historical data is not contested as the index is managed by the S&P Dow Jones indices. However, Bitcoin does not belong to a centralized entity, which makes it more difficult to obtain accurate market data.

Let’s take a few examples where not only is the total price different, but also the day the record price was hit. On coin peppersBTC, a crypto market research platform, hit a high of $ 20,089 on December 17, 2017. It’s over now at CoinGecko, Bitcoin hit a high of USD 19,665 on December 16, 2017. Binanceobsessed CoinMarketCap has The Bitcoin ATH at USD 20,089 was hit on December 17th, 2017. Wikipedia says BTC price peaked at USD 19,783.06 on December 17th.

The sophisticated trader Eric Wall, Chief Investment Officer of the Oslo-based Crypto Hedge Fund Arcane Assetsdoesn’t let the semantics get it down.

“Difficult question because every exchange has a different ATH. Wikipedia comes from the Coindesk price index and works flawlessly [in my opinion],” he said Cryptonews.com.

Meanwhile, it is not just the crypto market data providers who have discrepancies in their data. Popular trader known as CryptoGainz told on Twitter Cryptonews.com,

“ATH is subject to exchange lol. Last time the price was so inefficient [different] Had exchanges [different] Prices and [different] Had BTC currencies [different] Prices when converted into USD “.

In fact, crypto exchanges have their own versions of Bitcoin’s all-time high price, of which BitMEX is the most noticeable. according to On the IamNomad Twitter account, BTC traded near $ 50,000 for a few minutes in 2017. According to IamNomad, “chart systems like TradingView remove outliers that distort the chart enough.”

Mati Greenspan, who is at the helm of Quantum economyA recent newsletter indicated that not only is Bitcoin approaching record levels, it is also trading a number of altcoins near all-time highs that have not been hit since 2018. Greenspan described a scenario in which some traders, including himself, take profits in BTC and divert those funds into altcoins. One altcoin that has risen sharply lately is XRP, which is up 118% in the past seven days.

He also observed the nuances of Bitcoin’s all-time high price, saying it “varies depending on which chart you look at”. It offers a range from USD 19,666 to USD 20,155 Bitstamp at the bottom and eToro at the upper end.

“So when we see that a new high is actually quite subjective,” added Greenspan.

Given the speed at which Bitcoin price has broken through resistance levels recently, whatever that may actually be, it could hit a new all-time high at any time. In this case, be prepared for a data storm.
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(This article was updated at 17:00 UTC to add the latest data on a new Dow peak.)