On January 2, when the new year kicked off to a flying start for hodlers, Bitcoin reached a new psychological landmark. Data from Cointelegraph Markets, Coin360 and TradingView reported $30,000 during trading on Friday for the BTC/USD clinch.
The pair showed no signs of weakening after reaching fresh all-time highs of $29,700 overnight, retesting the mark several times before a final breakout occurred.
For the past few days, the area directly below $30,000 has proved a source of extreme selling pressure, a setup close to the one that Bitcoin disrupted just weeks ago at $20,000.
“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.”
Success comes after a year in which cryptocurrency increased by more than 300 percent in 2020, with almost 50 per cent benefit only in December, kind of like a boulder gathering momentum downhill, just in the opposite direction.The market cap of bitcoin soared as well, rocketing past all of the world’s most well-known businesses. With a market cap of $561.9 billion, BTC is currently worth more than all but nine publicly traded firms, sitting between Alibaba at $648.3 billion and Berkshire Hathaway.