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Bitcoin Price Exceeds $31,000 – What Is Next?

January 2, 2021 at 15:31 by Mark Stevenson

The price of the largest cryptocurrency by market capitalization, Bitcoin (BTC) has set a new all-time high on the second day of 2021. Bitcoin has broken the $31,000 threshold, a little over an hour after breaking through $30,000.

At around 14:33 GMT, Bitcoin price was trading at $31,319 on the Bitstamp exchange, up 5.85% in the last 24 hours.

Notably, the market capitalization of Bitcoin has stepped over $579.4 billion, while its dominance in the crypto market has grown to 72.27%.

Will Bitcoin’s bullish trend continue in 2021?

According to market analyst, Michaël van de Poppe, Bitcoin’s $27,000–27,500 support level would activate another upside run above $30,000.

Popular analyst Cryptobull, with more than 162k Twitter followers, commented on the Bitcoin price movement, saying that $33,000 per bitcoin by July will soon be a bearish statement.

Read also: Robert Kiyosaki: Buy Bitcoin Now, Next Stop Is $50,000

Moreover, Ton Weiss, a popular trader, said his Bitcoin price target for 2021 will be between $200,000 and $300,000, and may actually be higher. According to Weiss, Bitcoin’s rally to $100,000 in the near future “overly conservative.”

The analyst called the daily Bitcoin price chart optimistic while adding that BTC is warming up for another rally, which could raise the price to new historical highs.

Kraken co-founder and CEO Jesse Powell expect the price of one bitcoin to hit $1 million in the next decade.

Meanwhile, with the exception of ETH, most altcoins like XRP and LTC are showing negative results around 14:23 GMT, according to data from CoinMarketCap.

The total market capitalization of cryptocurrencies is over $816 billion.

If you have any questions and comments on Bitcoin today, use the form below to reply.

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