The price of Bitcoin
has risen again. Recently, Bitcoin has passed $40.000, which is of course another new record. Ethereum
also broke a record this time. And that is the first time since May 2018; now it's through $1.200.
However, Bitcoin's surge came as a surprise, following its correction around $30.300 on January 2. Because within 24 hours the price of Bitcoin rises by more than 14%; from $30.300 to $34.778.
What caused Bitcoin and Ethereum to rise?
When Bitcoin went past $33.000 on January 2, whales announced they could turn the market upside down by selling 150 BTC. A Bitcoin trader called "i.am.nomad" said that "a market sale of 150 BTC would turn this whole thing upside down. The higher the price, the more the retail sector gets the prices out, the lower the bid support”.
A few hours after its warning, Bitcoin corrected itself. However, Bitcoin came back within 24 hours with a new record. There have also been exchanges in recent days where Bitcoin was traded for a much higher price than on other exchanges. That shows how aggressive the buyers are on these exchanges.
Ethereum also showed that it is capable of breaking records during this time. For the first time since May 2018, Ethereum's value soared through $800.
When will it stop?
Ethereum also has something to look forward to. The ETH futures will be launched in February. Demand for Bitcoin this quarter could help to skyrocket Ethereum's value.
But in the meantime, Bitcoin itself also continues to rise, breaking new records every day. However, due to all circumstances, we can expect this to continue for a while.
Six-figure predictions have become more common in recent times. Especially in this rally where records are broken time and again. That is why we think that the rain of records will not stop in the near future.