Bitcoin price hits new all-time high on Christmas!

Bitcoin, the largest cryptocurrency by market value, rose to around $24,500 on Friday, setting a new all-time high.
Friday is the traditional Western holiday Christmas. The industry expects that the trading volume in the crypto market will be relatively flat during the holiday, with the trend mainly volatile. However, Bitcoin still gave everyone a Christmas surprise.
As the price of Bitcoin rose and the prices of altcoins such as XRP fell due to the SEC's lawsuit against Ripple, Bitcoin's dominance in the crypto market also rose to 69%, the highest level since January 2020.
Some analysts believe that this situation will continue until January next year. Cointelegraph Markets analyst Micha l van de Poppe said, "In the past few years, Bitcoin's dominance has always peaked in December. This is the case every year. There is a high possibility that this situation will repeat itself, especially combined with the current sentiment in the altcoin market. Optimistic about the market in the first quarter of 2021."
Currently, due to the influence of macro factors such as Brexit and the new coronavirus, as well as institutional funds that continue to flow into the crypto market, the price of Bitcoin remains bullish in the short term.
The next target price for Bitcoin is $25,000. If the market maintains its current trend, it is very likely to break through this price before the end of 2020. (Bitpush)