Bitcoin Hits Historical high, Jumps Above US $41,000 mark; Jan 08, 2021

Bitcoin Hits Record High, What’s Next?

A well-known cryptocurrency, Bitcoin surges on Friday and hits a fresh record high at US $41,802; up more than 5 pct for the day only. Within a month only, bitcoin has doubled its price and thus the current trend confirms it is the most traded crypto pair.

The above is a monthly chart of the BTC/USD. The Bitcoin is actually invented in 2008 but since last 4 years, the volume has increased hugely and now considering Bitcoin as most used Digital Currency.
The key factor to boom Bitcoin is increasing interest by traders & investors only. On the other hand, Central Bankers too are showing their readiness to create their own digital currencies.

Technical View:

BTC/USD: The Bitcoin surges on Friday and hits historical high at US $41,802 mark. The pair made intraday low at US $36,618 marks. Both RSI and MA confirm the bullish pattern. Key resistances are seen around US $42,024, US $42,428, US $42,790, US $43,150 and US $43,690 mark respectively. Key supports are seen around US $39,510, US $36,327, US $34,039 and US $32,215 marks respectively.

Take a look and do trade wisely!
Good Luck

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