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Historic day for Bitcoin as it breaks $30,000

Photo of: Joseph Stone
by Joseph Stone

The year 2021 is off to a good start for Bitcoin (BTC), which has just passed the $30,000 mark. After setting a new historical record above $20,000, Bitcoin’s bullish run has continued unabated.

The new year starts with a bang for the Bitcoin course. The queen of cryptocurrencies has just surpassed $30,000, a true performance that comes just 2 weeks after she surpassed her previous historical record of $20,000.

Volumes on the platforms are at record highs, institutional investors continue to flock in droves, and confidence in Bitcoin has never been higher, all factors that have pushed Bitcoin towards this colossal value.

From a fundamental point of view, Bitcoin has never been in such conditions. For several months now, almost everything has been in its favor, which has generated a constant increase in demand, and therefore in the price.

The last few days of 2020 were particularly prolific for Bitcoin, where it closed each new day with an increase in the order of $500 to $1,000. Bitcoin gradually climbed up the ladder until it reached the symbolic $30,000 mark.

In only 17 days, Bitcoin has thus performed more than 50% higher, rising from $20,000 to $30,000. Its total capitalization even reaches 560 billion dollars:

BTC/USD on TradingView

The only question left is where will we see a major corrections. Corrections are healthy in bull markets and should be expected but as supply dries up, it has become difficult to predict if one will happen at all. This kind of area is extremely difficult to trade as there are no historic supports or resistance ahead of us. For all we know, it’s all up from here. Fasten your seatlbelts!

Indeed, 2021 has been extremely kind on the crypto market so far and coins such as ETH have also followed closely Bitcoin on a strong upwards trend. The most impressive today has been Dogecoin which has doubled in value in 24h!