Bitcoin hit $20,000

The flagship cryptocurrency continues to attract investors and continues its growth phase as expected by cryptocurrency experts who are optimistic about the situation in the world of digital assets.

On January 9, for the first time in a long time, Bitcoin was able to overcome the $17,000 mark, on January 12, it crossed the $18,000 threshold, and in the middle of January 13, it already reached $19,000. An hour ago, the flagship cryptocurrency again felt a push and in a moment reached the $20,000 mark. At the time of writing, the price has corrected to $19,866.

The last week has become quite eventful for bitcoin lovers. If on January 7 the cost of BTC was estimated at $16,960, now the price has risen to $19,876, which is 18%.

The positive dynamics of the main cryptocurrency pulls the entire cryptocurrency market with it, which is especially evident on Ethereum. The price of the main altcoin at the same time rose to $1,460, which means that reaching the next milestone in the form of $1,500 is just around the corner.

A week earlier, Ethereum was trading at $1,270 and managed to reach $1,460 in 7 days, which is 15% more than at the time of January 7th. It, just like bitcoin, began to correct and slightly lost in value.

At the beginning of 2023, many experts in the cryptocurrency industry were discussing in which direction the market would move in the new year. Some argued that after the collapse of FTX, investors lost interest and confidence in digital assets, which will affect the length of the crypto winter. Other analysts pointed out that according to all the charts, it was time for a bull run.

Many are still skeptical that Bitcoin has reached the $20,000 mark and call it a correction before further decline. We, in turn, assume that the beginning of the year may indeed mark a new cycle of bitcoin and then we will be able to observe a slow but steady rise in the price of BTC.