Bitcoin price continues the race not slowing down and carrying all market with it. BTC just got to $29,000 and is aiming for $30,000.
The Cryptocurrency market is at the moment, with a Capitalization of up to $4 billion just in the last 24h. These surge levels have not to be seen since Jan 2018.
According to CoinMarketCap, the total Capitalization is sitting at $740 billion.
Bitcoin price continues to paint fresh all-time highs on a daily basis. Earlier today, CryptoPotato reported that the cryptocurrency has managed to break out once again and chart a new high at $28,600. However, it appears that there’s undoubtedly room for more.
In the past few hours, BTC has gone on yet another leg up, painting a fresh all-time high surpassing $29K – the current ATH is set to $29,010 on Bitstamp.
Since yesterday’s lows ($26,000), cryptocurrency managed to gain up to $3000 completing almost 50% ROI in just two weeks since breaking the December 2017 ATH – $19,660.
Analysts, however, predict that the price will go down early in 2021 allowing retail players to buy the currency for a low price.
Speaking to CNBC’s Trading Nation on Monday, Mark Newton, founder, and president of Newton Advisors said:
“It is still quite bullish on an intermediate-term basis given that it just broke out to new all-time highs. I think we have a ways to go. Near term, my cycle composite shows us peaking out in early January.”
The analysts also noted:
″[With] SPACs right now, you can make money at 10, 15, 20% a day. I just don’t think that investors have quite the appetite for crypto while the institutions are certainly very much heading in that direction.”
It should be noted that the second largest cryptocurrency (Ethereum) has also raised its price. According to Cryptopotato, it is very likely that the parallel movement of the last days will lead to crazy movements, which already are in progress.
At Binance, it has already exceeded the value of $ 780, a level that we haven’t seen since 2018.
At this time this cryptocurrency has a market cap of roughly $ 85 billion.