The market’s leading crypto currency, Bitcoin, reached a new all-time high of USD 38,000. It continues with its bullish market career.
The market’s leading cryptomone currency, Bitcoin, reached a new all-time high of $40,000, continuing its habit of reaching all-time highs almost every day on January 7 when bullishers watched the largest cryptomone currency rise above $38,000.
By Thursday, gains had accelerated, and Crypto Bank review investors recorded returns in 24 hours of about 11%. Remember that just a week ago, at the beginning of the year, Bitcoin was trading at $28,000.
Yesterday, Bitcoin surpassed $36,000 and $37,000 for the first time, before soaring past $38,000, $39,000 and now $40,000.
Among the altcoins, meanwhile, a curious renaissance was taking place for the XRP crypt currency.
Having previously lost a substantial amount of its value due to legal problems in major Ripple stakeholders, XRP saw a sudden renaissance this week, rising from USD 0.23 to USD 0.35 in a single day.
Crypto market reached $1 billion in capitalization
One indicator suggests that the price of Bitcoin could continue to rise
Bitcoin (BTC) may have reached new all-time highs, but one indicator suggests another bullish run is coming.
Published in the latest Stack Funds Weekly Report, the Bitcoin Network’s value-trading rate (NVT) data is still firmly on the rise.
According to Stack analysts, although Bitcoin has already gained 30% in 2021, the gains are far from over. Far from warning that the peak is imminent or that it’s already here, the NVT indicates the beginning of a bullish race, not the end.
„Currently, the NVT is trading at the 70 level and is roughly in the middle of the range. This suggests that Bitcoin is not in overvalued territory despite the recent price spike in recent weeks,“ the report summarizes.
„If anything, a potential increase in the NVT ratio could mean that Bitcoin is ready for another explosive upward move.
Novogratz Predicts Young Americans Will Buy Crypto with Their Stimulus Checks
In the midst of a long battle over whether or not U.S. citizens will get their $2,000 stimulus checks to help them cope with the economic repercussions of the COVID-19 pandemic, Mike Novogratz commented on what the news could mean for the stock markets and crypto-currencies.
The CEO of Galaxy Digital spoke to CNBC’s Squawk Box amidst the surreal image of a Wall Street seemingly undisturbed by the commotion on Capitol Hill yesterday.
A new round of stimulus controls of $2,000 each, recently passed by the House of Representatives, could, from Novogratz’s perspective, be good news for the markets. With the Senate now turned around after the second round of elections in Georgia, he noted that:
„Much of that stimulus will come to the markets. Certainly, when it gets into the hands of young people, it goes directly to their Robinhood accounts. One of the most unique things last time was seeing how many people bought Bitcoin with the exact amount of their stimulus check.
Of interest…
ETH on the way to USD 2,000? New levels to watch as Ethereum approaches its historical high.
Bitcoin (BTC) tries to pass the USD 40,000 barrier after experiencing massive gains in the first seven days of 2021.
Meanwhile, the price of Ethereum (ETH) has increased more than 100% in three weeks. However, it has not yet passed its historical peak of approximately USD 1,420 on January 13, 2018.