On Thursday, January 14, the price of bitcoin rises. At 09:50 Moscow time, the first cryptocurrency is trading at $ 37,874.67 (+ 14.45%), according to CoinMarketCap.
Bitstamp BTC / USD Chart by TradingView
Ether rose in price to $ 1123.31 (+ 10.03%). XRP rose 2.44% to $ 0.297.
The FxPro analyst team notes:
“Restoring risk appetite in global markets in hopes of US stimulus helped bitcoin. He is again making an attempt to return to growth, adding more than 12% per day and approaching $ 38,000. The very fact of such a quick return to growth rails in itself may spur buyers.
Altcoins supported the dynamics of the first cryptocurrency. As a result, the total capitalization of cryptocurrencies jumped above $ 1 trillion. This is now an important threshold level, the sustained breaking of which should strengthen the foundation for the sector’s growth.
If Bitcoin surpasses $ 40,000 again by the end of the week and holds above this level, the rally could switch to a new stage, where even the most skeptical investors will leave doubts.
Probably the most difficult resistance level for Bitcoin after the $ 20,000 battle will be $ 50,000. This is a very high price level, which is of great psychological importance for all participants in the crypto market. In the meantime, we see another return to the growth of the greed and fear index, which jumped 5 points over the course of a day to 83, corresponding to the “extreme greed” regime. Nevertheless, as with the stock market, pessimistic sentiments often cost the bears dearly. “
Subscribe to our Ihodl Telegram channel and stay updated with the latest news.