Bitcoin price moves close to hit $30,000 for the first time.

Bitcoin witnessed a massive rally at the end of 2020, and the cryptocurrency has started the new year a the same speed as the price moves closer to $30k.

After a brief dip beneath $29,000, Bitcoin’s price surged another leg to a fresh all-time high and came just a step away from the coveted $30,000 price tag. Most alternative coins have failed to follow bitcoin’s moves, and BTC’s dominance over the market has increased to 71%. Bitcoin records an incredible ROI of approximately 700% since 2020 low recorded on the 13 of March. On that date, Bitcoin plunged to $3650 on BitMEX. However, since then, the leading cryptocurrency sees only one bullish direction.

 

Bitcoin closes in to hit $30,000.

Bitcoin ended 2020 with a widely bullish sentiment and consecutive all-time highs just around the $29,000 mark. The new year began even more promising for the asset as it broke the previous records by jumping to $29,550 yesterday. In the last 24 hours, bitcoin dropped to an intraday low of $28,720. However, the bulls intercepted the move and didn’t allow any further declines. Just the opposite, BTC shot back up and reached yet another all-time high of over $29,928. The crypto community speculates if the cryptocurrency could break above $30,000 by the end of the day. 

 

Bitcoin witnesses the longest winning rally since 2019. 

At the time of writing, the price of the leading cryptocurrency is trading at just above $29,800, as the price is expected to follow the upward trend in the short term. This is bitcoin’s longest winning rally since 2019 as Bitcoin continues to hit all-time highs each day. While Bitcoin continuously heads towards new highs, most alternative coins have failed to come along on the ride. Ethereum, Bitcoin Cash, and Binance Coin are situated at practically the same price spots as yesterday. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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