Chinese National TV Covered Bitcoin’s Increase Above $20,000

The Chinese National TV channels covered yesterday’s Bitcoin’s surge above $20,000 and finally, the world has its eyes set on Bitcoin. Over the past 36 hours, the number one cryptocurrency enjoyed a jaw-dropping rally which led the cryptocurrency to almost $24,000 on leading futures exchanges with the coin being ready to move higher as analysts say there are no technical resistance levels above the current price as we are reading more about in today’s bitcoin news.

The ongoing rally made everyone look at BTC and the rest of the cryptocurrency. Mainstream media outlets like Fox Business and CNN also covered the staggering price movement but what’s interesting is that the Chinese national TV channels followed the price movement for almost the entire day, giving updates on the price movements. As pointed out by “Molly” the Chinese crypto insider, the Chinese state television CCTV covered the BTC rally in a short segment last night. The CCTV is a media channel that is televised to hundreds of millions in China.

Chinese National Tv channel CCTV :”bitcoin price hits historical high ,rises 450% since the March 12 “ pic.twitter.com/p1k111Ulsp

— Molly (@bigmagicdao) December 17, 2020

The headline of the segment outlined bitcoin’s new all-time high with its remarkable performance of more than 500 percent since the crash in March where the asset hit lows of $3,500. CCTV seems to be attributing the rally to the recent influx of Wall Street players that entered the crypto space. Yesterday, the British investment company confirmed that it has about $800 million worth of BTC on its balance sheets as it looks to hedge the portfolio against the drop in the US dollar and the loss of bond yields.

Before this, prominent Wall Street funds also announced they will purchase BTC as they also looked to make a hedge position against these unprecedented macroeconomic trends. In the west, BTC trended on Twitter in the UK, Canada, and some parts int the US. There were about 150,000 tweets about the number one cryptocurrency on just one day. Most of the engagement involved industry proponents and the ones watching BTC and expressing their excitement about the all-time high.

Bloomberg’s recent segment with Scott Minerd went viral as well since the Wall Street money manager was quoted saying that the number one cryptocurrency could hit $400,000 in the upcoming few years. What’s even interesting is that there’s isn’t much attention to BTC outside of Twitter.
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Google Trends shows that the United States’ interest in the search term “Bitcoin” is less than 25% from the 2017 highs when BTC hit $20,000.