The world’s foremost crypto asset in terms of market capitalization, Bitcoin has experienced a price hike of over $15k during the past 24 hours. Bitcoin price is steadily marching toward the $17k zone and trying to repeat its historical price hike during 2017.
Since last month, the coin has gained more than 39% price moves and touches a new all-time high this year. According to a senior commodity strategist at Bloomberg called Mike McGlone, Bitcoin might undergo a parabolic 2021, repeating its state in 2013 and 2017.
McGlone mentioned that such new highs in Bitcoin’s price could be the next potential iteration in his recent tweet. He continued with his expectation that it might be only a matter of time that the coin will experience the trend of its greater adoption along with higher demand in the future.
Out of 7,594 crypto assets in the market today, Bitcoin’s dominance index is nearly 65.7%. It has been dominating the whole cryptocurrency market since its inception in 2009. But, along with its incredible gain during the past weeks, quite a few lesser-known crypto coins also have seen significant spikes.
For example, cryptocurrencies like Yoyow, Refereum, Gifto, Ankr, Machine Xchange Coin, Deep Brain Chain, Terra, and Celsius saw much higher price gains. Multiple leading crypto analysts and traders have also started believing that Bitcoin’s trajectory toward $20k is imminent.
A senior financial analyst in FxPro, known as Alex Kuptsikevich, has also mentioned that once Bitcoin overcomes the resistance area near $12,000, it will not have any significant hurdles to jump towards $20,000.
However, the coin has passed all the obstacles in its way towards $20k, and now several crypto enthusiasts foresee only positive value proportions for the leading cryptocurrency.