Bitcoin is overperforming itself if that is the right way to describe the latest series of gains that brought new highs to the top crypto in 2021. Bitcoin has been bullish since December 2020 when the crypto got past the value of 20,000$ for the first time in the history of Bitcoin and the crypto market. Bitcoin is still showcasing bullish behavior from week to week despite declines that are also a part of its market cycles. In the latest bull run, Bitcoin recorded a new all-time high price on February 19th, scoring over 53,000$.
Bitcoin Scores a New ATH in February: BTC Rises Over 53,000$
Bitcoin made it to a new all-time high price on February 19th once the crypto reached the value of 53,194$, trading above 53,000$ for the first time. Bitcoin soon dipped below the latest ATH, currently trading at around 52,900$, still close to its all-time high. Bitcoin is taking full advantage of its bullish pace so we can see new highs from week to week, while the next target is confidently set at the price of 60,000$. Given the fact that Bitcoin traded as low as 38,000$ during the last week, the price of 60k is more than realistic with the current momentum. Bitcoin is likely to hit 100,000$ in the following months if the positive sentiment prevails according to the general expectations of crypto market analysts.
Bitcoin Price Analysis: February 12th to 19th, 2021
- Bitcoin is currently trading at the value of 52,940$ after trading at a new high of 53,194$
- The weekly chart is showing nearly 11% of gains
- The lowest price for the week was 46,941$
- The highest price for the week is its latest all-time high of 53,194$
- The yearly chart is showing returns of 422% for Bitcoin by far
Image credits: Cover photo taken from Andre Francois McKenzie