Bitcoin Breaks $40,000: BTC Price Gained 38% In The First Week Of 2021

Bitcoin has broken yet another massive milestone. Just moments ago, the price managed to hit the coveted $40,000 mark for the first time in history.

• Bitcoin’s price shows absolutely no signs of slowing down from the incredible parabolic move.
• Moments ago, it managed to hit the significant milestone, breaking the coveted $40,000 mark.
• This makes for a daily increase of around 14%.

• As CryptoPotato reported earlier today, a senior Bloomberg strategist, Mike McGlone, said that Bitcoin hitting $50,000 is more likely than it hitting $20,000, giving a seriously bullish outlook for the cryptocurrency.
• Back in November last year, he also said that the cryptocurrency will reach $20K (which it did, in fact) and that this will only be a stepping stone on the path to a market cap of $1 trillion.
• In our latest Bitcoin price analysis, we pointed out the next possible targets once $40,000 is claimed. The first level of resistance about that lies at $41,190 (a short-term 1.414 Fib Extension), followed by $41,850.
• In any case, the cryptocurrency is on a tear throughout the past few weeks, charting high after high.
• This has also pushed the total cryptocurrency market capitalization above $1 trillion for the first time in history.
• It’s worth noting that other coins are also charting massive gains. Despite the ongoing SEC lawsuit, Ripple’s XRP exploded by 50% today as bulls are trying to stage a recovery.