Digital Trends may earn a commission when you buy through links on our site. Why trust us?

Bitcoin sets new all-time high value of over $19,800, before falling again

By Arif Bacchus December 1, 2020

The popular cryptocurrency Bitcoin is setting new records. This morning, December 1, the prices on the highly volatile digital currency reached just under $19,860, breaking past its previous all-time high of $19,783 (set in December 2017) before falling in value again.

Bitcoin has seen a number of price surges this financial quarter, and there are a lot of reasons as to why this is happening. One key reason is a PayPal deal that would allow users to buy, hold, and sell virtual cryptocurrencies using their PayPal balances. Government spending and current interest rates are also factors, as is the COVID-19 pandemic. Fidelity, a financial services corporation, also launched a Bitcoin fund for its wealthy investors in August 2020.

Bitcoin, though, is still quite a risky investment when compared to the U.S. dollar or the values of gold and other rare metals. After surging past its previous record value earlier on December 1, prices dropped on the cryptocurrency again, bringing it closer to around $19,000 dollars. Before that, the value dropped even lower, to $18,313, according to data seen on CoinMarketCap. The value is often hard to predict, and it does not always sway with world events like stock prices often do.

This rise, and then drop, in value could also be attributed to hoarding (or “hodling”), and a rush to invest or “mine” the cryptocurrency with the right resources. It is not uncommon, though, as when Bitcoin hit its previous high value in December of 2017, it saw prices drop thousands of dollars just a few months later.

Still, since Bitcoin is the leading cryptocurrency, it does have an impact on many others on the market. When Bitcoin values rose on December 1, so did prices on Ether, peaking at around $636, according to Gemini. Even with the fall, prices on other cryptos like Litecoin, are trending upwards.

It is truly unknown how high Bitcoin prices can truly go next, but some estimates do predict it will surge once more. According to some experts, it could go to as high as $70,000 before the end of 2022, and maybe even above $100,000 again in the years 2023 to 2025.

Digital Trends does not offer investment advice on the buying and selling of cryptocurrencies.

Editors' Recommendations

Bitcoin price surges past $18,000, approaching its all-time high

Topics

Former Digital Trends Contributor

Arif Bacchus is a native New Yorker and a fan of all things technology. Arif works as a freelance writer at Digital Trends…

Computing

Power up your tech game this summer with Dell’s top deals: Upgrade for a bargain

Dell Techfest and best tech on sale featured.

One of the best times to upgrade your tech stack, be it your desktop, a new laptop, or some high-resolution monitors, is when great deals are to be had. Well, I'm here to share that thanks to Dell's top deals, you can power up your tech game and have most of the summer to make it happen. Maybe you're happy with your current system or setup. That's excellent, but you're likely considering upgrading somewhere, and that's precisely what these deals are all about. Dell has a smorgasbord of deals on laptops, desktops, gaming desktops, monitors, accessories, and so much more. We'll call out a few of our favorite deals below, but for now, know that you should be shopping this sale if you're interested in anything tech-related.

What summer tech should you buy in Dell's top deals?

Computing

I love the MacBook Pro, but this Windows laptop came surprisingly close

Apple MacBook Pro 16 downward view showing keyboard and speaker.

There are some great machines in the 15-inch laptop category, which has recently been stretched to include the more common 16-inch laptop. The best among them is the Apple MacBook Pro 16, which offers fast performance for tasks like video editing and the longest battery life.

The Lenovo Yoga Pro 9i 16 is aimed not only at other 16-inch Windows laptops but also at the MacBook Pro 16. It offers many of the same benefits but at a lower price. Can it take a place at the top?
Specs and configurations

Computing

How to set an ‘Out of Office’ message in Microsoft Teams

Person using Windows 11 laptop on their lap by the window.

Many people use Microsoft Teams regularly to communicate with colleagues both inside of the office and remotely. It is considered one of the most efficient ways to ensure you can stay in contact with the people on your team, but what if you need to let people know you’re not readily available? Microsoft Teams has a method for you to set up an "Out of Office" status for your profile to let staff members know when you’ll be gone for the afternoon, for several days on vacation, or for an extended period.
Where do I go to set up my ‘Out of Office’ status for Teams?
It is important to note that your Microsoft Teams and Outlook calendars are synced. This includes your out-of-office status and automatic replies. So, whatever you set up in Microsoft Teams will reflect in Outlook. Similarly, you can set up your out-of-office status in Outlook, and it will be reflected in Teams; however, the former has a more straightforward instruction.

First, you can click on your profile icon in Teams and go directly to Schedule an out of office, as a shortcut. This will take you to the settings area where you can proceed. You can also click the three-dot icon next to your profile icon, then go to Settings > General, then scroll down to the bottom of the page. There, you'll find out-of-office settings and click Schedule.