Bitcoin continues to rally, breaks new record of $29,500
America ı By Rochdi Rais
0 Comments
Bitcoin (BTC) has been hitting all-time high-records in December 2020. The cryptocurrency's rallying streak continues, reaching a new record of $29,500 on the first day of 2021.
Since the BTC price surpassed the $20,000 mark for the first time in its history in December, investors are waiting for the most expensive cryptocurrency in the market to increase by 2% hitting the $30,000 mark.
Bitcoin has been gaining the attention of major investment firms and even politicians especially in 2020. The new BTC record-breaking price will highly contribute to investors’ confidence in the cryptocurrency. Many investors now prefer the cryptocurrency over gold as a hedge against inflation.
BTC is trading 24% higher than last week. It is showing a resistance range of $28,000 to $29,500 and likely to increase to $30,000 by the end of the week.
However, many investors are pulling it back from reaching that point, as the data from Coinbase suggest that major exchanges have remained at 0.01%. It means that there is a Bitcoin shortage in the market or many investors are selling BTC.
There is a big shortage of ASIC’s. Miners only need to sell enough bitcoin to cover existing USD operational costs. They are incentivized to hold all capital that would otherwise be deployed into buying hardware, in $BTC.
— Kyle Davies (@kyled116) December 30, 2020
An analyst at Coinbase said that the moment the market opened in 2021, the Bitcoin’s price jumped to a high new record. “As Bitcoin's markets opened in 2021 for the first time about 30 minutes ago(UTC), prices have jumped to $29,460 as $BTC has made yet another all-time high. Active addresses are on the rise in recent hours to support this push,” the analyst stated.
What about other digital currencies
Meanwhile, the XRP token has been facing an awful downturn due to the latest lawsuit filed by the SEC against its creator Ripple. There is no data on how the XRP price decline contributed to the rise of interest in Bitcoin. However, the Bitcoin rally highly contributed to the rise of other cryptocurrencies such as Ethereum, which is at $745, and Litecoin at $135, making them near record-breaking levels.
That being said, 2020 was Bitcoin’s year in many aspects. Many investors and billionaires are confident that 2021 will be an even better year for the cryptocurrency, suggesting that it can go as high as $40,000.
Have a story you want USA Herald to cover? Submit a tip here and if we think it's newsworthy, we'll follow up on it.
Want to contribute a story? We also accept article submissions – check out our writer's guidelines here.
Discussion
No comments yet. Be the first to join the discussion!
FOLLOW US
Recent Posts
Nuclear Talks Begin in Switzerland as U.S. and Iran Attempt…
Olympic Cyclist Arrested for Simply Touching the Lincoln Memorial Reflecting…
Pizza Hut to Be Sold in $2.7 Billion Deal by…
Tesla in Self-Driving Mode Allegedly Crashes Into Texas Home at…
Ubisoft Co-Founder Claude Guillemot Dies at 69 in Tragic Plane…
Chicago Drive-By Shooting Leaves 12 Hit on Juneteenth Night —…
Three hikers die of heat-related illness during rising temperatures at…
Don’t Miss It
Luxury Caribbean Resort Engulfed in Massive Fire — 1 Tourist Dead, 1,700 Guests Evacuated in Chaotic Blaze
By – Rihem AkkoucheFederal Judge Orders Release of Joe Biden’s Private Audio Tapes — Heritage Foundation Scores Major Win in Explosive Transparency Battle
By – Rihem AkkoucheJane Street Emerges from the Shadows as AI Becomes the Next Battleground on Wall Street
By – Jackie AllenAnne Hathaway, 43, Stuns Fans with Surprise Pregnancy Announcement — ‘Baby, I’m Yours’ Video Melts Hearts
By – Rihem AkkoucheBanning Secret Hospital “No-Compete” Clauses Could Slash Insurance Premiums by Billions and Finally Break Big Hospital Monopolies
By – Rihem Akkouche10 People Injured in Terrifying Hot Air Balloon Crash in Nevada Desert — One in Critical Condition After Fiery Impact
By – Rihem AkkouchePeace Agreement Between US and Iran Outlines Path Toward Regional Ceasefire and Nuclear Talks
By – Jackie AllenGrammy-Nominated Hitmaker Tay Keith, Producer for Drake, Travis Scott and Beyoncé, Found Dead at Just 29 in Nashville Apartment
By – Rihem Akkouche
Kelly Warner Law Firm Blames USA…
In what appears as a desperate attempt to defend multiple…
By – USA Herald
Aaron Kelly Law Firm Resorts To…
Attorney Aaron Kelly and his law partner Daniel Warner are…
By – Jeff Watterson
Arizona Bar Opens Investigation on Attorney…
USA Herald recently reported on a developing story involving Attorneys…
By – Paul O'Neal
Hollywood Icon’s Daughter and Husband Found…
In a heartbreaking and mysterious tragedy, Judith Sheldon — daughter…
By – Rihem Akkouche
The Billionaire Tax Compromise That Could…
A high-stakes gamble is unfolding in the corridors of California…
By – Tyler Brooks
Vance Breaks Ranks: US Vice President…
In a striking shift in the geopolitical landscape, United States…
By – Tyler Brooks
Where Did All The Oil Go?…
The Strait of Hormuz is finally open for business again.…
By – Tyler Brooks
The AI Capital Expenditures Supercycle Has…
For months, Wall Street has been locked in a heated…
By – Tyler Brooks
How to Claim Your Federal Student…
The landscape of federal student loans is shifting as the…
By – Tyler Brooks
How AI Has Solidified America as…
For years, the global discourse has been dominated by the…
By – Tyler Brooks
Mexico vs South Korea 2026 World…
As the 2026 FIFA World Cup shifts into Matchday 2,…
By – Rachel Moore
Tragic Death of ‘Lilo & Stitch’…
Daveigh Chase, the beloved child actress who voiced Lilo in…
By – Rachel Moore
Gas Prices Finally Drop Below $4…
American drivers are finally catching a break at the pump,…
By – Rihem Akkouche
Scottie Scheffler Chases Elusive Career Grand…
The U.S. Open returns to one of the toughest tests…
By – Rihem Akkouche
Avi Loeb’s New UAP Council Raises…
WHAT’S INSIDE THIS REPORT Avi Loeb has been selected to…
By – Samuel Lopez
Mike Myers Confirms Austin Powers 4…
After years of rumors and speculation it’s official, the spy…
By – Cwamne Howard
Internet’s First Serial Killer Used Early…
The story of Serial Killer John Edward Robinson remains one…
By – Jackie Allen
The 9-Second Disaster: The Edge of…
The tech industry is learning that AI autonomy can be…
By – Jackie Allen
Southern Poverty Law Center Indictments Linked…
The Southern Poverty Law Center (SPLC), one of the nation’s…
By – Jackie Allen
Anna Kepner Killing: Federal Judge Orders…
The legal proceedings surrounding the cruise ship murder of Anna…
By – Jackie Allen
Russia Shadow Fleet Captain Faces UK…
The captain of a Russian Shadow Fleet tanker intercepted by…
By – Jackie Allen
Russia Shadow Fleet Captain Faces UK…
The captain of a Russian Shadow Fleet tanker intercepted by…
By – Jackie Allen
Body Found Floating in Queens Park…
A Body Found Floating in a pond at a quiet…
By – Jackie Allen
ZCash Security Scare Raises Questions About…
ZCash has found itself at the center of a major…
By – Jackie Allen
Oliver Tree Dies at 32 in…
Oliver Tree, the genre-blending singer, songwriter, and internet personality was…
By – Jackie Allen
New York Chaos Erupts After Knicks…
New York Chaos unfolded across the city after the New…
By – Jackie Allen
New York Knicks End 53-Year Championship…
The New York Knicks have finally climbed back to the…
By – Jackie Allen
How to Claim Your Federal Student…
The landscape of federal student loans is shifting as the…
By – Tyler Brooks
Avi Loeb’s New UAP Council Raises…
WHAT’S INSIDE THIS REPORT Avi Loeb has been selected to…
By – Samuel Lopez
The End of PACER Paywalls? Bipartisan…
WHAT’S INSIDE THIS REPORT Senators John Kennedy and Ron Wyden…
By – Samuel LopezWHAT’S INSIDE THIS REPORT Tyra Banks alleges Netflix deceptively edited…
By – Samuel Lopez
Inferno in Boyle Heights: Massive Warehouse…
A massive fire broke out on Wednesday afternoon at a…
By – Tyler Brooks
Media Titans Unite: China Approves $110…
In a monumental development for the global entertainment landscape, Chinese…
By – Tyler Brooks
Nichelle Nichols’ Final Mission Ends in…
By Samuel López | USA Herald The woman who helped…
By – Samuel Lopez
Cannabis Giants Hit with Sweeping Class…
A major class action filed May 4, 2026, accuses five…
By – Samuel Lopez
New Pill Doubles Survival for Pancreatic…
Pancreatic cancer pill doubles life to 13 months By Tyler…
By – Tyler Brooks
FDA warns public as cookie firm…
FDA warns public as cookie firm rejects urgent recall request…
By – Tyler Brooks
Trump orders CDC to slash childhood…
Trump orders CDC to slash childhood vaccines from 17 to…
By – Tyler Brooks
USDA warns Americans over Salmonella in…
USDA warns Americans over Salmonella in meat products By Tylor…
By – Tyler Brooks
Extraterrestrial Kickoff? Viral Psychic Warns of…
Football fans around the globe are currently deep in the…
By – Tyler Brooks
Dana White Declares The Historic UFC…
WASHINGTON D.C. — It was 3:00 a.m. on Monday, and…
By – Tyler Brooks
Pulisic Is Not Training. What Happens…
Mauricio Pochettino pulled Christian Pulisic at halftime of the USMNT’s…
By – Nicolas Carreno
New York Knicks End 53-Year Championship…
The New York Knicks have finally climbed back to the…
By – Jackie Allen
Mexico vs South Africa World Cup…
The 2026 FIFA World Cup is officially underway, but the…
By – Rihem Akkouche
FIFA World Cup 2026: Gianni Infantino…
The countdown to the FIFA World Cup 2026 has transformed…
By – Tyler BrooksNo posts found.
No posts found.
