Bitcoin Price Hits $21,400 First Time in History

After few weeks of side movements, Bitcoin has just surpassed the magic $20,000 price level, which was the previous peak price ($19,800 level), now trading at an even higher level first time in history.

The crypto market has entered into a new bull cycle pretty much since early summer, bringing more and more institutional investors to the table, especially that the world now is entering a long economic crisis where Bitcoin, the number one cryptocurrency is seen as an alternative asset and a safe hedge against rising inflation and also preserving wealth and purchasing power. Bitcoin's price has doubled during the past few months, which is looking sustainable and only the beginning of this new cycle.

Keeping in mind that Bitcoin has a long history of volatility, though there are many reasons to be bullish (positive) on the long run, it is wise to manage risk and also look at different indicators and preparing for all scenarios.

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