Bitcoin moving faster than speed of light

Bitcoin is presently running faster than “186,282 miles per second”(speed of light in vacuum) as it smashes its previous all-time highs at a pace not seen in the modern era.

The flagship crypto within moments rallied to set a new all-time high at $29,267.

READ: Bitcoin’s transaction fees Jump by 344%

What this means: Crypto investors were left cashing in big time, as the most popular crypto rallied to record highs more than 25 times in a few days.

• Crypto fans cheered it as an inflation hedge in an era of unprecedented amounts of quantitative easing triggered by many central banks globally.
• Also, leading household names in finance including Paul Tudor Jones and Stanley Druckenmiller endorsed it as an alternative asset, adding to the rally.
• Not forgetting listed U.S brands like MicroStrategy Inc. and Square Inc. that moved their cash reserves into crypto in search of better returns than what near-zero interest rates deliver.

READ: Bitcoin mining difficulty reach an all-time high

Also, a top crypto strategist, Rafael Schultze-Kraft in a detailed diagram revealed why the odds are still with the flagship crypto, taking into account it’s becoming pretty scarce and investors are not willing to sell relatively;

• Liquidity getting squashed, investors hoarding, accessible BTC becoming scarcer.
• 1 million Bitcoin has become illiquid this year, i.e. are held by entities that spend < 25% of coins they receive.
• Less Bitcoin for you to buy.
• Bullish.

READ: Bitcoin miners are super-rich, earn $1,000,000 per hour

One of the most important #Bitcoin charts in 2020.

Liquidity getting squashed, investors hoarding, accessible BTC becoming scarcer.

1M BTC have become illiquid this year, i.e. are held by entities that spend < 25% of coins they receive.

Less $BTC for you to buy.

Bullish. pic.twitter.com/H3gGTTgqXk

— Rafael Schultze-Kraft (@n3ocortex) December 30, 2020

READ: Bitcoin’s market value now $468 billion, bigger than GDP of Africa’s largest economy

Sequel to this feat, Bitcoin had earlier attempted to break above the $28,500, but after rallying to $28,600 the price rejected with a price correction to $27,300.

That said, the bulls had enough gas amid an era of inflationary measures in play, in breaking all resistance price levels as it presently stays between the striking distance of $30,000

READ: Apple becomes world’s largest public listed company, valued at $1.82 trillion

Gemini exchange co-founder and leading bitcoin investor, Cameron Winklevoss via his Twitter feed spoke on bitcoin’s recent feat saying;

“Bitcoin is about to take out another major psychological barrier at 30K”.

READ: Investors move over $1 billion worth of Bitcoin at an alarming rate

#bitcoin is about to take out another major psychological barrier at 30K! pic.twitter.com/7kTepIuaXA

— Cameron Winklevoss (@cameron) December 31, 2020