Bitcoin saw a sharp start in 2021 as the top crypto scored a new all-time high in the first days of January, getting close to 35,000$ on January 3rd and scoring 35,000$ and above only days later. Bitcoin doesn’t seem to be slowing down with gains and rises, although it appears that the recent gains are not driven by the post-halving momentum. As institutional investments are increasing in volumes and in numbers, BTC is taking a full swing towards potentially reaching new highs.
Bitcoin Price: Bitcoin is Rising to New Highs in 2021
The finish of 2020 was exceptionally satisfying for Bitcoin investors, especially holders who bought their BTC during a major dip in 2019 when Bitcoin traded at lows. BTC achieved the mark of 20,000$ already on the first day of December, almost doubling its price only a month later in January 2021. BTC is currently trading between 35,000$ and 34,000$ with occasional dips and rises, spiking by 11% on the daily chart and scoring over 376% for the year. The monthly chart is also showing gains by 81%, with trading volumes and market cap also reaching record results. Bitcoin now makes up for nearly 68% of market dominance.
Can Bitcoin (BTC) Reach 40,000$ in the Following Weeks?
Bitcoin already got past the value of 35,000$, getting closer to new highs with the next target being 40k US dollars. In case Bitcoin establishes strong support at the 35,000$ level, the crypto has a chance to head for 40,000$ already in the following weeks. What is certain is that BTC is gaining more support from whales and institutional investors, which is how the top crypto appears to have a bright future as a store of value. Analysts also have bright predictions for BTC in 2021, suggesting that the crypto will continuously see new highs during this year.
Image credits: Cover photo taken from Viktor Forgacs on Unsplash
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