Bitcoin (BTC) opens a new week on the rise with a jump of 5%, which took its price above USD 46,000. The leading cryptocurrency returned to the bullish path after several weeks down, and the annual growth rate already exceeds 50%. At the close of this note, the price of BTC partially fell back to $ 45,791.
The crypto market in its entirety lives a completely green Monday. Both BTC and Ether (ETH) have seen monthly highs in recent hours, accompanied by the rest of the altcoins. ETH is up nearly 5% in the last 24 hours and broke the $ 3K barrier after nearly two months. Currently, the price of ETH is $ 3,169.
The new jump of BTC has triggered optimism among specialists. Mike McGlone, a Bloomberg strategist, suggested a few hours ago that the leading cryptocurrency could reach $ 100,000 before the end of the year, which would be an annual growth of more than 300%, as it happened in 2020.
“This year is set for Bitcoin to take the next step in its price discovery stage and we see a renewed bull market,” McGlone said. The ecosystem appears to have left behind environmental questions and crypto crackdown in China, and underpins its recovery. From a more diversified investor base and more environmentally friendly options.
“Bitcoin appears to have built a base of around $ 30,000 which is similar to $ 4,000 in early 2019, and we see performance parallels that could see the benchmark crypto head back toward $ 100,000, ” the expert wrote in his analysis.
The rest of the smaller cryptocurrencies have also had an extremely positive day. Litecoin (LTC) excelled with a 10% jump to take it above $ 164, followed by bitcoin cash (BCH) which is trading just below $ 600 after a jump of 7%.
XRP and polkadot (DOT) followed with a rise of 4% and their price ranges between USD 0.82 and USD 20.85. Lastly, Binance coin ( BNB ), cardano ( ADA ), and dogecoin ( DOGE ) grew more than 2% and are trading at USD 3.59, USD 1.49 and USD 0.25 respectively.