Bitcoin price hits $30,000 milestone for the first time ever

CoinTelegraph

Bitcoin (BTC) hit a fresh psychological landmark on Jan. 2 as the new year kicked off to a flying start for hodlers.

BTC/USD weekly candle chart (Coinbase). Source: Tradingview

BTC price wastes no time in 2021

Data from Cointelegraph Markets, Coin360 and TradingView showed BTC/USD clinch $30,000 during trading on Friday.

After hitting new all-time highs of $29,700 overnight, the pair showed no signs of weakness, retesting the level several times before a final breakout occurred.

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The area immediately below $30,000 had proven a source of intense selling pressure throughout the past few days, a setup similar to that which Bitcoin disrupted at $20,000 just weeks ago.

“If you’re looking for an entry to HODL Bitcoin long term, don’t nickel and dime an entry. You’re not going to sweat a few thousand dollars of non-perfect entry when it’s $100k,$200k,$300k in a year,” popular statistician Willy Woo summarized on Friday.

“The main bull phase is here. Capital inflows has gone nuts.”

Mixed reactions for altcoins

Among major altcoins, performance on the day was mixed, with Ether (ETH) staying flat below $740 despite Bitcoin’s latest advances.

Others also saw teething problems, among them Polkadot (DOT), which dropped 6.3% to dent its still strong weekly performance of 60% gains.

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A curious mover was XRP, which despite the pressure of legal proceedings against Ripple held steady at $0.23 after a 7% improvement on Friday.

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Author: William Suberg


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