Bitcoin Monthly Prices Finishes at Second All-Time High

Bitcoin Monthly Prices Finishes at Second All-Time High

At the end of October, Bitcoin has registered its second highest closing price of all time.

Bitcoin bulls continue to rejoice as Bitcoin closes at its second highest monthly price in the history of the digital currency. Bitcoin closed October with a price hovering right around $13,800, the second highest monthly price finish besides the historic bull run of late 2017, leading up to a $20,000 Bitcoin. This is a historic moment, especially when considering that this price stability was established and maintained during a global pandemic. There are many factors that could have lead to this continued price increase and price stabilization.

One of the biggest factors that could have led to the second highest all time closing price is the continued institutional investment interest into Bitcoin. Recently, we have seen massive companies such as MicroStrategy, Square, and PayPal either invest 10s and even 100s of millions of dollars into Bitcoin or implement a platform for users to interact with cryptocurrencies (in the case of PayPal). As large companies continue to see Bitcoin as a potential hedge against global inflation, it should not come as a surprise that we are seeing some much bullish sentiment surround Bitcoin.

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