14:54
Dip-buying bulls push Bitcoin price to a new all-time high at $36,574

Bitcoin bulls bought the dip and produced enough momentum to send BTC price to a new all-time high above $36,500.

Bitcoin’s (BTC) parabolic rally intensified on Wednesday as the price broke above $36,000 for the first time, sending a strong signal that the bull market still has further room to grow.

The flagship cryptocurrency peaked at $36,574.47 on Bitstamp, easily surpassing its previous all-time high. The price has gained 8% on the day and more than 25% over the past week.

At press time, Bitcoin was trading at $36,367.

BTC/USD daily chart. Source: TradingView

he current value, Bitcoin’s market capitalization has grown to $669.2 billion, accounting for roughly 68.3% of the overall cryptocurrency market.

Bitcoin’s latest breakout defies warnings that the market could be facing overbought resistance in the near future. An overheated futures market and large liquidations from some of Asia’s largest holders raised the possibility of a short-term pullback.

So far, Bitcoin’s digital-gold narrative appears to have squashed any semblance of a major pullback as institutions and retail traders buy the dips. As Cointelegraph recently reported, Bitcoin is experiencing a supply shortage as major buyers like Grayscale and PayPal continue to scoop up all of the newly mined BTC.

Bitcoin continues to exert a strong gravitational pull on the broader market, with major altcoins also printing new local highs. Ether (ETH) briefly surpassed $1,200 on Wednesday. Litecoin (LTC), XRP, Bitcoin Cash (BCH) and others also saw significant gains. 

Sourse: cointelegraph.com

Start mining bitcoin now

Start trading bitcoin now

Category: Analytics | Views: 74 | Added by: danyagames2007 | Tags: #Bitcoin #Bitcoi Price #BTC | Rating: 0.0/0
Total comments: 0
Name *:
Email *:
Code *:
[22.01.2021][News]
Buying the Bitcoin Dip: MicroStrategy Scoops $10M Worth of BTC Following $7K Daily Crash (0)
[22.01.2021][News]
MicroStrategy buys the Bitcoin dip worth $10 million (0)
[22.01.2021][News]
Bitcoin is unlikely to replace gold as a risk diversifier – DBS Bank (0)
[22.01.2021][News]
Demand for Bitcoin Miners Pressures Chip Makers Amid Global Shortage (0)
[22.01.2021][News]
OKCoin to Integrate Bitcoin’s Lightning Network in Q1 (0)
[22.01.2021][Analytics]
Bitcoin's biggest mining pool may be behind the BTC price drop, but buyers stepped in (0)
[22.01.2021][News]
Grayscale Acquires $1,276,147,151 in Bitcoin in Single Week (0)
[22.01.2021][News]
Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s (0)
[22.01.2021][News]
Biden names new SEC and CFTC administration – curse or blessing for Bitcoin? (0)
[22.01.2021][News]
Learn the basics of Bitcoin with some help from a pro (0)

BACK TO NEWS LIST