According to data by TradingView, 18:13 UTC on Thursday (January 7), the Bitcoin price broke $40,000, and three minutes later, it reached $40,374, setting yet another new all-time high (ATH).
Per data by CryptoCompare, currently (as of 18:25 UTC on January 7), Bitcoin is trading around $39,350, up 11.39% in the past 24-hour period and up 35.82% in the year-to-date period. Bitcoin’s market cap is roughly $732 billion at the moment.
It was only yesterday that Cameron Winklevoss, Co-Founder and President of crypto exchange Gemini, said that he expected the Bitcoin price to reach $40,000 soon, and as you can see, his prediction came true less than 24 hours later.
It is worth pointing out that today’s new all-time high above $40K comes less than four weeks after Bitcoin broke $20K on 16 December 2020 and just three days after a team of J.P. Morgan global market strategists led by Nikolaos Panigirtzoglou reportedly wrote in a note to clients that over the long term Bitcoin’s price could get to $146,000 and higher.
It is also interesting that last year, on Black Thursday (March 12), for a brief period, it was possible to buy Bitcoin for a 1/10 of the current price.
Crypto analyst Josh Rager says the Bitcoin price is on its way to $50,000.
Featured Image by “SnapLaunch” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Source: Read Full Article
Great Migration of Bitcoin Hashpower Sees 50% Of Miners On The Move – A Look At The Magnitude Of This Event On The Market
MicroStrategy Buys $10 Million Bitcoin
Biden's Tax Plan Could be Bullish for Ethereum but Bearish for Bitcoin
Creative Foods Recalls Two Coffee Substitute Gluten-Free Products
Mixed Signals: Proponents Can't Tell If Bitcoin's Usual September Bear Storm Will Be Different This Time