Bitcoin Breaks $40,000: BTC Price Gained 38% In The First Week Of 2021

Bitcoin has broken yet another massive milestone. Just moments ago, the price managed to hit the coveted $40,000 mark for the first time in history.

Bitcoin’s price shows absolutely no signs of slowing down from the incredible parabolic move.Moments ago, it managed to hit the significant milestone, breaking the coveted $40,000 mark.This makes for a daily increase of around 14%.

BTC/USD, $40K on Bitstamp. Source: TradingViewAs CryptoPotato reported earlier today, a senior Bloomberg strategist, Mike McGlone, said that Bitcoin hitting $50,000 is more likely than it hitting $20,000, giving a seriously bullish outlook for the cryptocurrency.Back in November last year, he also said that the cryptocurrency will reach $20K (which it did, in fact) and that this will only be a stepping stone on the path to a market cap of $1 trillion.In our latest Bitcoin price analysis, we pointed out the next possible targets once $40,000 is claimed. The first level of resistance about that lies at $41,190 (a short-term 1.414 Fib Extension), followed by $41,850.In any case, the cryptocurrency is on a tear throughout the past few weeks, charting high after high.This has also pushed the total cryptocurrency market capitalization above $1 trillion for the first time in history.It’s worth noting that other coins are also charting massive gains. Despite the ongoing SEC lawsuit, Ripple’s XRP exploded by 50% today as bulls are trying to stage a recovery.Title: Bitcoin Breaks $40,000: BTC Price Gained 38% In The First Week Of 2021
Sourced From: cryptopotato.com/bitcoin-breaks-40000-btc-price-gained-38-in-the-first-week-of-2021/
Published Date: Thu, 07 Jan 2021 16:32:04 +0000

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Donna Burk

Donna Burk– Business News My Name is Donna Burk and I am also the main source from the ‘Dailynewssheet.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

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