Bitcoin (BTC) continued its January 7 habit of hitting all-time highs almost every day as bulls took the largest cryptocurrency above $38,000.
BTC price exceeds $38,500
Data from Cointelegraph Markets, Coin360 and TradingView followed the BTC/USD pair as it cleared another hurdle on its way to $40,000 USD.
On Thursday, gains accelerated, as bitcoin investors saw 24-hour returns of 11.5%. Just a week ago at the start of the year, Bitcoin was trading at $28,000.
As reported by Cointelegraph, the largest cryptocurrency, along with Ether (ETH) and a handful of other cryptocurrencies are the best investment game of 2021, leaving even Tesla stocks far behind.
TSLA has been the winning bet for 2020 since the coronavirus crash in March, with Bitcoin also being defeated by Ether.
“The next correction will certainly be painful for all #FOMO buyers,” warned Michael van de Poppe, analyst at Cointelegraph Markets. Twitter Followers as Bitcoin reached another new record high of $38,510.
XRP Suddenly Comes Back From Death
Meanwhile, an intriguing renaissance has occurred in the cryptocurrency, which ranks fourth in the digital currency XRP.
after having already XRP has lost a significant amount of its value due to legal issues with major shareholder Ripple, XRP experienced a sudden rebirth this week, rising from $0.23 to $0.35 in one day.
For Van de Poppe, $0.35 now represents the level of success or breakout that the bulls must hold in order to extend their gains, which comes despite no real movement in legal action.
XRP needs to break this important resistance area in order to continue rising. If that does not happen, further standardization will be required.” hung.