This year, Crypto coin traders have been waking up to some Christmas treat really: right on Boxing Day, and while LTC was doing very nicely on its own and has broken above $130 again in a long time, over in the BTC-to-dollar market new record highs were set.
Bitcoin broke above the $25,000 mark for the first time, thereby setting yet another all-time high for the Crypto currency against the U. S. dollar.
The move appears to have been fueled by continuing uncertainty in the United States over the stolen election and possible remedies against that attempted coup d’etat on the part of some over-eager Biden supporters in several states. The US Dollar Index had already suffered, with the value coming down from just under 100 to around 89 at the time of writing, and a number of Forex and Crypto traders have been observed mentioning that they would short the dollar further, unless the Dollar Index reading recovered back over the 90-91 area. As this hasn’t happened yet, the dollar-defying moves in all markets, including Crypto-against-dollar ones all over Crypto exchanges and P2P Crypto trading is not even surprising.
It remains to be seen whether or not rhings reverse once “silly season” ends and the markets return back to more regular trading and hours in early January. But for now, Crypto coins seem set on testing new highs. For BTC, that would be the important £30K mark, while LTC might continue forward to test the next significant high at around $146, last seen in 2019.
While only the markets themselves will be able to prove or disprove these numbers, there is still room left for some upward phantasies either way as both targets are at least a few days away.