2 - 3 minute read
As of December 25th, the price of Bitcoin (BTC) has reached $16,791.80. The cryptocurrency’s market capitalization is currently over $317 billion, and its relative strength index (RSI) is showing a bearish divergence from the slight upward trend seen in the past week. In comparison, the S&P 500 index has seen a 4.50% increase in value over the same time period.
Billionaire investor Mark Cuban has recently defended Bitcoin, stating that anyone investing in gold is “dumb as f***”. Cuban has also expressed interest in buying the cryptocurrency at much lower prices. Meanwhile, public Bitcoin mining companies have been plagued with $4 billion of collective debt, according to Cointelegraph.
It remains uncertain whether Bitcoin’s price will continue to rise or experience a correction in the near future. Traders should continue to monitor the performance of the cryptocurrency and stay informed about any news or developments that may impact its value.