Bitcoin breaks through $37,000 as alts follow

Bitcoin sets yet another all-time-high as alts pick up the bullish momentum.

  • Bitcoin and most of the top 100 altcoins trending upwards over 24 hours

Bitcoin is trading at $37,035 at the time of writing according to Coinbase, which is a 9.8% increase in the last 24 hours.

Market sentiment appears to be largely unanimous that Bitcoin and the altcoin market will continue upwards. That notion is reflected across the board as most of the top 100 cryptocurrencies by market cap are up on the day, many with double-digit gains.

How to buy Bitcoin

Ethereum continues to make positive strides, up 12.7% on the day at $1,210. The leading decentralised network is up 726% on its year-to-date price, outperforming Bitcoin in terms of overall growth in the past year.

Greyscale Bitcoin Trust performance YTD. Source: TradingView

Ethereum founder lays the case for Bitcoin’s bull run

In a blog post summarizing the year that was 2020, Ethereum founder Vitalik Buterin laid out his reasoning for the continued Bitcoin bull run. According to him “gold is lame” and he says that millennials share that realization.

In saying that “$9 trillion has to go somewhere”, Buterin is suggesting that a large amount of money could transfer from gold and gold-backed derivatives to Bitcoin and the evolving cryptocurrency markets.

Interested in cryptocurrency? Learn more about the basics with our beginner’s guide to Bitcoin, see how to keep your crypto safe with our end to end guide to cryptocurrency security and dive deeper with our simple guide to DeFi.

Disclosure: The author owns a range of cryptocurrencies including at the time of writing

Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
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have holdings in the cryptocurrencies discussed.

Picture: Getty

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