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Seeking Alpha 2020-12-27 20:21:45

Bitcoin surges through $28K before pulling back

Bitcoin (BTC-USD) broke through $24K in a big way on Christmas day, and then took out $25K, $26K, $27K, and $28K over the ensuing 36 hours. It rose to as high as $28.3K early this morning, before pulling back to the current $26.9K.Ethereum (ETH-USD) also joined in the run, breaking above $700 for the first time in nearly three years. It's pulled back a bit as well, now trading hands at $697.Some are suggesting the Holiday Effect as among the reasons for the big move, as dinner table stories of monies made investing in crypto stir interest among family members.Names to watch when equity trading resumes tomorrow morning include: Grayscale Bitcoin Trust (GBTC), Riot Blockchain (RIOT), Marathon Patent (MARA), Bitwise 10 Crypto Index Fund (BITW).

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