Bitcoin price reached a new all-time high of $37,800

On the morning of January 7, the rate of the first cryptocurrency at 8:39 MSK rose to $37,800 (Bitstamp exchange), setting a new high.


Source: TradingView.

The $35,000 level bitcoin broke through about a day ago.

„The market looks absolutely amazing. It brings joy every day,“ wrote trader and market analyst Michael van de Poppet.

Legendary trader Peter Brandt believes that the price is in the middle of a parabolic movement.

„Bitcoin is redefining the notion of overbought,“ he noted.

At the time of writing, quotes have rolled back from record highs. The aggregate capitalization of the cryptocurrency market exceeds $1 trillion with a bitcoin dominance index of 67.6% (according to CoinGecko).

Alex Krueger believes that the magnitude of market corrections should sharply decrease as institutional participation in bitcoin increases.

„Learn, bitcoin will likely never trade below $20,000 again,“ he said.

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