On the eve of its 12th birthday, the most popular cryptocurrency, bitcoin (BTC), surpassed another milestone, jumping above the USD 30,000 level just a bit more than in two weeks after it returned to USD 20,000. Moreover, in a matter of hours, it hit USD 33,000. (Updated at 19:38 UTC with the latest price data. Updated at 19:45 with additional comments.)
At the time of writing (19:36 UTC), BTC trades at USD 33,068 and is up by 14% in a day and 28% in a week. The price rallied by 70% in a month and 350% in a year.
BTC price chart:
It is also the best performing major coin today. Other cryptoassets from the top 10 club are up by 1%-14%, except XRP (-5%).
BTC “will be on the road to USD 50,000 probably in the first quarter of 2021,” Antoni Trenchev, Managing Partner and Bo-founder of major crypto lender Nexo, told Bloomberg.
“When any asset climbs in price this fast for an extended period of time I become cautious, and I’d urge anyone trading BTC to not get caught up in the euphoria,” Nicholas Pelecanos, head of trading at NEM, told CNN. However, he predicts bitcoin could rise to USD 50,000 by Valentine’s Day. “I believe we are just at the beginning of what will be an immense bull market.”
“It’s very likely that the asset will eventually pass USD 100,000 per coin,” Sergey Nazarov, Co-founder of Chainlink (LINK) wrote in an email to Reuters. “People have been steadily losing faith in their government currencies for years, and the monetary policies resulting from the economic impact of the coronavirus have only accelerated this decline.”
Tomorrow, January 3rd is the 12th anniversary of the first block in the Bitcoin blockchain mined, also known as the Genesis block.
As reported, only BTC 4.2m (22%) are currently in constant circulation and available for buying and selling. However, it also estimated that, in 2021, the aggregated BTC exchange balance will rise as more holders seek to realize profits or to trade other cryptocurrencies.
Also, the interest in BTC keeps rising, according to Google data.
_____
Reactions:
We spent a lot of time fighting for the $10,000 level the last couple of years
In 2021, #BTC will see a $10,000 Daily candle!
— Mr. Anderson (@TrueCrypto28) December 27, 2020
There was no resistance at $30k where everyone thought there will be. I suspect that the bull market just started.
— Ran Neuner (Non fungible) (@cryptomanran) January 2, 2021
Just to put things into perspective: With a market value of $563bn, #Bitcoin is now more valuable than all but nine publicly traded comps, sitting between Alibaba at $630bn and Berkshire Hathaway at $544bn. pic.twitter.com/zgxAolNoRQ
— Holger Zschaepitz (@Schuldensuehner) January 2, 2021
#BTC
Previous break of ATH lead to a 1615% rally pic.twitter.com/whd8TaEGqJ— Crypto_Ed_NL (@Crypto_Ed_NL) January 2, 2021
Today in Georgia we havd celebration called Bedoba – Fate Day 🇬🇪Whatever happens will be the course for the rest of the year! Happy ATH $30,500 🚀🚀🚀 pic.twitter.com/48atqm1iT5
— HODLGeorge 🚀 (@BitfuryGeorge) January 2, 2021
Source: Cryptonews
