The top cryptocurrency printed a new high price of $41,026 shortly before the press time, surpassing the high lifetime of $40,223 reached on Thursday, according to CoinDesk 20 results. Year-to-date gains currently over 40%.
In a trend typical of bull market euphoria, prices have more than doubled in less than a month.
“Fundamentals have gone out the window and irrational exuberance may accelerate bitcoin past the $50k level ahead of the second schedule,” Jehan Chu, CEO of Kenetic Capital, a Hong Kong-based trading company, told CoinDesk.
The price rise is accompanied by an increase in on-chain investment and stronger accumulation by major investors. For instance, according to data provider Glassnode, the number of active addresses has risen to a record high of 1,343,925, surpassing the previous peak seen in December 2017.
Bitcoin’s rich list or the amount of addresses carrying at least 1,000 bitcoins has rebounded to set a new lifetime high of 2,334 from the late-December dip.
