On the evening of January 7, the price of the leading cryptocurrency breached the $39,000 level, hitting an all-time high.
Prices rose above $39,600 (on Bitstamp).
Bitcoin is soaring past $39,000! pic.twitter.com/MKJohGRRiQ
— Bitcoin Magazine (@BitcoinMagazine) January 7, 2021
Bitcoin had already breached the $38,000 level a few hours earlier.
Just over a day ago the milestone $35,000 level.
Commenting on Bitcoin’s parabolic rise, the well-known crypto blogger PlanB noted that his stock-to-flow model for Bitcoin’s price ‘is working as scheduled’. According to the model, Bitcoin will reach $100,000 in 2021.
#Bitcoin Stock-to-Flow model on track .. like clockwork🚀 pic.twitter.com/x7o8mwbzj7
— PlanB (@100trillionUSD) January 7, 2021
According to CoinGecko, Bitcoin’s price over the last 24 hours rose by 12.5%. Against this backdrop, Ethereum’s price managed to rise again firmly above $1,200. Among leading digital assets, Ripple’s XRP token rose the most — more than 46%.
Data: CoinGecko.
Трейдер Микаэль ван де Поппе hinted at a possible ‘altcoin season’, akin to the start of 2018.
‘Imagine the moves of altcoins when Bitcoin is already twice the 2017 peak,’ he wrote.
Imagine the moves on altcoins when $BTC is already 2x previous ATH in 2017.
— Michaël van de Poppe (@CryptoMichNL) January 7, 2021
According to Coin Metrics, Ethereum’s market capitalization reached a new all-time high, even though the price of the cryptocurrency is still about 14% below its ATH.
#Ethereum has a new Market Cap ATH, despite the price of $ETH still sitting ~14% below ATHs pic.twitter.com/WHeuJ3tIV3
— CoinMetrics.io (@coinmetrics) January 7, 2021
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