Bitcoin price jumped 8% in the past 24 hours to its highest level at $ 40,817, according to “coingecko”.
Looking at the performance of Bitcoin during the week, we find that it rose by 12.7%.
The performance of the Bitcoin currency encountered an obstacle and resistance of $ 40,800 and $ 41,000, as it was unable to breach it to return to the support level of $ 38,000, which is still stable at it until writing this article.
Thus, Bitcoin has returned and approached its previous record high of $ 41,946 on January 8th.
The current price of Bitcoin is a continuation of the rally that started at the beginning of last week.
As Bitcoin began to rise from Monday 01 February, the price was then $ 33,600.
Bitcoin trading volume reached $ 74.3 billion, dropping to $ 52 billion in the last 24 hours.
Ethereum and Cardano:
The move of Bitcoin and its approach to its previous peak affected the large alternative digital currencies such as Ethereum and Cardano, as they also began to rise and set new records.
The price of Ethereum rose to record a new historical high of $ 1752 on February 5, to get close to it, as the price of Ethereum reached its daily peak of $ 1716, then the price of Ethereum decreased afterwards, and fell to $ 1600.
Cardano’s “ADA” currency is one of the currencies that caught the attention of it in a dramatic rise, reaching 100% in the last week.
The great rise in the price of Cardano’s currency made it rise in the ranking of digital currencies in terms of total market value and reached the fourth place by pushing the Ripple currency through it.
The Cardano coin reached a new peak not seen since January 2018, when the currency’s price reached $ 0.65.
The rise of alternative digital currencies, along with the rise of Bitcoin, made the overall market value of the market generally set a new record at $ 1.23 trillion.
Earlier this week, Mr. Mike McGlone, chief commodity strategist at Bloomberg, stated that Bitcoin has entered a bullish market boosted.
McGlone estimated that $ 50,000 is the next target resistance level for Bitcoin.