Bitcoin reaches new all-time high and overtops $34,000

Bitcoin’s New Year rally does not seem to stop. The price of the first cryptocurrency renews its all-time high and briefly exceeds $34,000.

2021 began with a powerful leap of bitcoin to new records. On January 2, the bitcoin price exceeded $30,000, and by the end of the day, the cryptocurrency was trading above $32,500. After a short period of correction, bitcoin again moved to growth, and on January 3, the price of the cryptocurrency overtopped $33,000. By the evening of the same trading day, it almost reached $34,500, but could not hold the conquered positions and rolled back to $33,800.

The market capitalization of the cryptocurrency is close to $630 billion. The daily trading volume was $84 billion. According to this indicator, bitcoin is traditionally second only to the USDT stablecoin, which is used on most cryptocurrency exchanges as an alternative of the US currency. The daily volume of USDT exceeded $112 billion within the last 24 hours.

Within the year, the price of bitcoin, which was traded around $7000 at the beginning of 2020, has grown almost fivefold.

Together with bitcoin, the whole cryptocurrency market turned to growth. ETH price added 16% per day and 40% within the past week. ETH peaked at $894 by January 3, while its market cap hovers around $103 billion. Litecoin went up in price by 16% per day, Bitcoin Cash grew by 11%, Chainlink added 9.3%, and the token of Uniswap grew up by 11.7%.

But the leader in terms of growth over the past week was Dogecoin. It jumped 156% in price, and added 70% within the last 24 hours.

Bitcoin received a powerful impetus for growth at the end of October, when the Paypal payment service announced its readiness to work with cryptocurrencies and announced that it would accept crypto as a means of payment from 2021.


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