On the last day of the outgoing year, the Bitcoin rate(BTC) set another historical record and exceeded the level of $ 29,000. At the time of publication of this review, the largest digital currency was trading at $ 29,008. BTC capitalization over the past 24 hours has increased by almost 5% to $ 539 billion.
Given the fact that the first digital currency is currently trading in the green zone, a breakout above $ 30,000 can be expected during the day.
Altcoins are also gaining in value on December 31.Ether (ETH) reached $ 750 for the first time since the beginning of 2018. Litecoin (LTC), Cardano (ADA) and ChainLink (LINK) rose to $ 127, $ 0178 and $ 11.3, respectively. Cryptocurrency market capitalization exceeded $ 763 billion.
</p>Trader Josh Rager believes that reaching $30000 in the very near future — This is a completely achievable goal for Bitcoin. The same analyst predicts that having reached another high, BTC will enter a phase of natural correction. However, don't expect a deep fall.
Rager recalled that this year the cryptocurrencyafter the March collapse, it was able to quickly recover. In the summer, BTC held its ground even against the backdrop of the DeFi boom, when capital entered mainly the decentralized finance market.
The last three months of 2020 have become the most epic for Bitcoin. The coin started its race in October and showed a stunning performance in December.
CryptoQuant CEO Ki-Young Joo wrote inTwitter that the influx of stablecoins to exchanges is increasing. This is «bullish» a signal for the market, since investors usually enter Bitcoin and other digital currencies through fiat-backed coins.
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