Bitcoin hits a new milestone on Christmas day

Crypto traders were all smiles on Christmas day cheer with a new all-time high for Bitcoin, culminating in a tremendous year for the digital asset.

What you must know: The flagship crypto peaked at $24,661.76 on Bitstamp a British-based crypto exchange, surpassing the previous high recorded some days ago. The altcoin market also rebounded, with Ethereum (ETH), Litecoin (LTC), and XRP posting impressive rallies.

At the time of writing this report Bitcoin traded at $24,185.38 with a daily trading volume of $40 billion. Bitcoin is up 3.94% in the last 24 hours.

Many cryptos including Bitcoin are rallying strongly, and it seems the momentum trade is strengthening as mass media outlets embrace crypto coverage, on the bias that the flagship crypto rallied to an all-time high today and appears poised to take out the $25,000 level.

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Bitcoin’s leading players took to Twitter to break the new record — and to remind their fans to keep holding as 2021 approaches. Gemini co-founder, Cameron Winklevoss expressed his excitement:

Merry Christmas! Santa left $24.5K #Bitcoin under the tree.