Bitcoin Price Hits New All-Time High of $ 38,400
Bitcoin price hits new all-time high of $ 38,100
On January 7, the rate of the first cryptocurrency rose to $ 38,400 (BitXmi exchange), setting a new maximum.
The price of Bitcoin broke through the $ 35,000 level about a day ago. (Read here)
“The market looks absolutely amazing. He brings joy every day, ” – wrote trader and technical analyst Michael van de Poppe.
The market looks completely amazing. It's enjoyable every day.
— Michaël van de Poppe (@CryptoMichNL) January 7, 2021
Legendary trader Peter Brandt is confident that the price is in the middle of a parabolic move.
“Bitcoin is redefining the concept of “overbought,” – he said.
Bitcoin $BTC is redefining the concept of "overbought." Bull markets become and remain overbought. Major bull markets become overbought majorly. Historic bull markets become historically overbought. Red arrows mark midpoints of parabolic advances pic.twitter.com/OZB7IBXPbg
— Peter Brandt (@PeterLBrandt) January 7, 2021
The total capitalization of the cryptocurrency market exceeds $ 1 trillion with a bitcoin dominance index of 67.6% (according to CoinGecko).
Alex Kruger believes that the magnitude of market adjustments should sharply decrease as institutional participation in Bitcoin increases.
“Get it, bitcoin will most likely never trade below $ 20,000 again.” – he said.
— Alex Krüger (@krugermacro) January 7, 2021
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