Bitcoin Price hits a new high record of $35,800K on Tuesday, January 5th, 2021 precisely at 8:30 PM PST.
BTC is essentially bullish and breaking records every other day. The bitcoin hit a new high value of $35K last night. Bitcoiners were overjoyed at this momentous happening. Not so surprisingly, BTC has broken out from $35K one more time just moments ago.
The gain in BTC price has been significant since December 2020. The new year is so far great for crypto in terms of value and widespread adoption.
The new development has been linked with US Federal Regulator(Office of Comptroller of the Currency) issued a statement allowing national banks to use blockchain and stablecoins. The regulatory body mentioned in the letter that the use of Independent Node Verification Networks (or blockchain) will make the monetary transaction process more speedy and efficient.
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Many altcoins are also following the suit of bitcoin. Ether is at $1,152 whereas LTC has taken place of 3rd biggest cryptocurrency with a whopping price of $164.45. Both of these are expected to break the records of all-time high peaks from 2018.
Cryptocurrency is becoming a buzz word with all this noise of bitcoin bull rally. Many countries are introducing bitcoin regulation laws. Surely, the mainstreaming of crypto is not a dream anymore.
What to Expect?
While the global economy and other financial indicators have nosedived in the face of COVID-19 pandemic, crypto has thrived. Investors saw crypto as safe haven against all the uncertainty in traditional markets. Bitcoin is now famous for being ‘Digital Gold‘. Essentially, BTC has strong fundamentals. The news of ‘Bitcoin hits new high’ has become cliched in the past few weeks.
Cryptocurrency’s volatility is now the only factor diminishing its appeal among masses. Nevertheless, crypto will become more stable with an increasing number of investors entering its market. With this, we will usher into the age of digital currency.
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