23. April 2021

From $19,660 to $20,089: At what point will Bitcoin exceed its historical maximum?

Bitcoin is currently trading around historical highs (All-Time High, ATH). There is still no exact number that defines ATH because BTC trades at different prices on each exchange, Decrypt writes.

Larry Cermack of The Block has compiled a list of ATHs on major exchanges ranging from $19,660 (Kraken) to $19,999 (Gemini).

According to Bitcoin Evolution, a popular data aggregator for the cryptovoltaic market, the historical high was set on 17 December 2017 at $20,089. The CoinMarketCap uses a „volume weighted average market pair“ to determine the price of any crypto asset. The aggregator considers volume in order to limit data on sharp price fluctuations on low-liquid exchanges.

The Messari analytical resource also defines the ATH at $20,089. „The ATH is not always the highest price in a single transaction. Due to the nature of the historical data being analysed, we are not always able to view every transaction in an asset. For some assets, the ATH may be determined to the highest daily value or to a price sample for the day when a record high was recorded,“ explains the resource.

The CoinDesk Bitcoin Price Index defines ATH at $19,783.

In a comment for Decrypt, Messari analyst Ryan Watkins said that „it all depends on which exchanges are counted and how each provider calculates prices.

Nirage Agraval of Coin Center sees the $20,000 mark as „a level that most people in the market pay attention to. Arthur Sapek, founder of the Cryptowatch platform, a subsidiary of Kraken, agreed with Agraval.

„Personally, I think $20,000 is a good mark that should be considered a historical high because ATHs differed greatly from one exchange to another and because the dollar has lost some value since 2017,“ Sapek said. „$20,000 seems like a reasonable inflation-adjusted ATH.

Paul Veradittakit of Pantera Capital said: „ATH is only important for the media, attracting money and people. I believe that Bitcoin will overcome ATH when the price rises above $19,783 on most exchanges.

Sino Global Capital’s CEO, Matthew Graham, said: „I don’t think it makes any difference. No matter how you define ATH, we will be flying past the old highs very soon.

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