BTC hits $41,000 as bitcoin volume spikes in new ATH

Quick take

1 minute read

• As the leading crypto coin has been working on hitting $40,000 over the past few weeks, it has finally reached the vital resistance level. 

• Over the past month also, we have seen Bitcoin spike massively in price smashing new all-time highs consistently. 

As the leading crypto coin has been working on hitting $40,000 over the past few weeks, it has finally reached the vital resistance level. Over the past month also, we have seen Bitcoin spike massively in price smashing new all-time highs consistently. 

Nearly everyday this week, in particular, we have seen a new high for the King coin and it just keeps on growing.

That being said, we are not Financial advisors and this is not financial advice. Please do your own research before investing in a crypto asset.

Earlier this week on the 7th of January, Mati Greenspan, the founder of Quantum Economics took to Twitter to post a chart on Bitcoin volumes across different platforms. He noted that it had doubled its previous all-time highest level as he noted:

Bitcoin volumes across exchanges has just doubled it's previous all time highest level. pic.twitter.com/Hl5T4N4Sck

— Mati Greenspan (tweets ≠ financial advice) (@MatiGreenspan) January 7, 2021

Currently, Bitcoin has just hit a new all-time high in $41,000 following a 10.86% increase over the past 24 hours at the time of writing. It seems that nothing is stopping the king coin today.

The analyst went on to say that the current volumes that we are looking at are much higher than that of the 2017 and 2019 rallies.

When it comes to Bitcoin futures contracts, they have produced more than $97 billion in 24-hour trade according to Skew.

"Volumes on the Bitcoin blockchain have also been building up steadily over the last few months and are now much higher than they were during the 2017 and 2019 rallies."

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