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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Surpasses $36,000 to Set New All-Time High

Bena Ilyas
Bena Ilyas
8 months ago
1 min read

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Bitcoin just passed $36,000 for the first time ever in spite of protests in Washington D.C. over the election. The cryptocurrency rapidly dropped as low as $34,000 earlier this hour amid the chaos, though now trades above the $36,000 price point.

BTC is up 5.5% in the past 24 hours while Ethereum and other cryptocurrencies have moved even higher.

BTC’s price action comes as the U.S. dollar has continued to slip lower. The Dollar Index is down 0.02% in the past 24 hours, falling to multi-year lows.

Related Reading: Wall Street Veteran Kickstarts Own BTC Fund With $25m Investment

Bitcoin Moves to New All-Time Highs

Chris Burniske, partner at Placeholder Capital, says that Bitcoin and the rest of the crypto market needs to pull back to sustainably rally moving forward:

“1/ The euphoria is intoxicating, but #crypto is in need of a pullback and consolidation if $BTC wants to reach into the $100Ks and $ETH into the mid-to-high thousands.”

He explained that Bitcoin needs to recharge for another wave higher, as the market may be clearly overbought right now.

He expects to expect a “dissipation” of the current bull trend in the near future to cool the upward trend.

1/ The euphoria is intoxicating, but #crypto is in need of a pullback and consolidation if $BTC wants to reach into the $100Ks and $ETH into the mid-to-high thousands.

— Chris Burniske (@cburniske) January 6, 2021

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
Featured Image from Unsplash
Chart from TradingView.com
Price Tags: xbtusd, btcusd, btcusdt
Bitcoin Surpasses $36,000 to Set New All-Time High
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Bena Ilyas
Bena Ilyas

Bena Ilyas

Benna Ilyas is a finance and cryptocurrency enthusiast who has been writing about Bitcoin and the blockchain since 2021. She is an author at Bitcoinist and NewsBTC, and she also runs his blog, where he writes about all things related to crypto and finance.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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