Bitcoin (BTC) Reclaims $20,000 Mark; Altcoins Trade Mixed

Bitcoin is trading at $20,000 and has broken above the Price mark after hitting a low of $18,712 earlier today. Bitcoin Exchange contracts continue their bull run as open interest (OI) is set for another record high at more than $4 billion. Meanwhile, Ethereum looks to reclaim the $600 price mark, and altcoins see mixed trading. The bullish move comes as Ethereum (ETH) looks to reclaim the $600 price mark and altcoins see mixed trading. The last time BTC saw this level was in December 2018, when it reached an all-time high of just over $20k before crashing to just below $3k in early January 2019.

Bitcoin (BTC) Reclaims $20,000 Mark; Altcoins Trade Mixed
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Meanwhile, Bitcoin Cash (BCH) is down almost 4% in today's session at around $1120. Litecoin (LTC) has dipped 1.5% to trade at $106, and XRP has been relatively stable with a 0.3% drop over the past 24 hours and trading slightly above $0.32 in early afternoon trade.

Still, altcoins are seeing mixed trading following yesterday's big moves for most cryptocurrencies across the board, particularly for XRP, which regained its position as number two by market cap behind only BTC after falling behind Litecoin earlier this week amid uncertainty from South Korean regulators about their plans for crypto regulation in the future.

Bitcoin (BTC) Reclaims $20,000 Mark; Altcoins Trade Mixed

Bitcoin has rebounded from an early morning dip below $19,000 after U.S. lawmakers submitted a bipartisan bill that would authorise national banks to provide cryptocurrency custody services.

The bill is called the "Cryptocurrency Act of 2020". It aims to clarify which federal agencies regulate which type of crypto assets by creating three clear categories of digital assets. Exchange tokens (non-security digital assets designed for exchange or store of value, including BTC), utility tokens (crypto assets that provide access to a specific application or service on a distributed ledger platform), and security tokens (crypto assets backed by physical or financial assets).

The act would give national banks the green light to provide cryptocurrency custody services while also allowing them to invest in cryptocurrencies. 

The bill, also known as the "Cryptocurrency Act of 2020," was submitted to Congress for consideration on Friday, December 11, and aims to clarify which federal agencies regulate which type of crypto assets by creating three clear categories of digital assets: exchange tokens, security tokens, and utility tokens.

The bill defines an exchange token as a digital asset designed to be used on a distributed ledger platform that has been created to facilitate transactions between two or more parties where it can identify no specific good or service at any point.

A security token is a digital representation of value that may be issued by an individual or corporate entity and secured through cryptographic techniques. It also requires registration with one or more regulatory bodies if it offers investors a stake in an enterprise or originates from an issuer who conducts its activities within the United States.

Finally, utility tokens are those used solely within an ecosystem offering access to non-financial products and services rather than investment opportunities. This category does not require registration with any regulatory body unless it offers investors shares in its company.

Exchange tokens, including BTC, are non-security digital assets designed for exchange or storing value. Security tokens are digital assets deriving value from an external source, such as a company or fund. Utility tokens are digital assets designed for consumption. Meanwhile, Bitcoin futures contracts continue their bull run as open interest (OI) is set for another record high at more than $4 billion.

Bitcoin's recent momentum has been fueled by various factors, including a series of news stories that had bullish effects on the price of bitcoin and its underlying blockchain technology, as well as positive developments related to crypto mining and exchange operations in several countries around the world."

Final Words

The cryptocurrency market is showing some positive signs. We have seen Bitcoin reclaim and break above the $20 000 handle while altcoins are trading mixed.  For trading in bitcoin you can use bitcoin trading software. It will help you to do fast bitcoin trading. The bullish move comes as Ethereum looks to reclaim the $600 price mark and altcoins see mixed trading. Meanwhile, Bitcoin futures contracts continue their bull run as open interest (OI) is set for another record high at more than $4 billion.