Bitcoin (BTC), the world’s largest digital currency in terms of market cap has finally reached a milestone that it has been striving to achieve for the past three years. It is the second day of the year 2021 and the primary cryptocurrency has succeeded in achieving the milestone of $30,000 by registering a price rally of more than 4 percent in the last 24 hours.
Bitcoin Sets New All-Time High Above $30K
Over the course of the last two days, Bitcoin has been trying to climb above the price level of $30,000. It has been trading in the zone between $29,500 and $29,800. Now, it has finally achieved success in surpassing above this price mark.
It surged as high to reach $30,850 which is the new all-time high value for the top-ranked digital currency. What’s more, it is the first time in the history of this decentralized digital currency that the coin has hit this price figure. Cryptocurrency analysts and experts have already predicted that the year 2021 will be a remarkable year for Bitcoin. Some of them are of the view that the top digital asset will surge high to the $95,000 mark this year.
At the press time, the price value of Bitcoin is up by nearly 5 percent over the last day. While on the other hand, it is trading up by nearly 26 percent on a weekly basis. It is currently in strong momentum and can break other major price levels as well in the coming days. Analysts claim that the flagship cryptocurrency is poised to hit the milestone of $40k this month.
CoinGecko’s data shows that the market capitalization of Bitcoin also skyrocketed to the level of $557 billion. If Bitcoin succeeds in hitting the $40,000 price level, the market cap of BTC will also likely reach $600 billion. This potential rally of Bitcoin has also driven the global cryptocurrency market cap to cross the figure of $800 billion for the first time in the history.