Bitcoin Finished Week On A Bullish Note, Breaking $ 40,000 Resistance While Altcoins Were Decreasing

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Bitcoin Finished Week On A Bullish Note, Breaking $ 40,000 Resistance While Altcoins Were Decreasing

Bitcoin began to recover in the last week of January, bouncing off the support in the $ 30,000 area. In the first days of February, the upward dynamics gained strength, and on Saturday the coin broke another psychologically significant barrier of $ 40,000. The next important target is the all-time high set at $ 41,950.

On Saturday and Sunday, bitcoin is traded at about $ 39,500. Over the course of the day, the coin has risen in price by almost 7%, the weekly gain was 19%. Given the strong bullish momentum, $ 41,000 could be traded soon.

Bitcoin Dominance Rises

Over the past day, the bitcoin dominance index has grown by 3%, since the rapid growth of the first cryptocurrency was accompanied by the letdown of most of the large altcoins. Ethereum, the second-largest coin, also hit a record high at the end of last week, approaching $ 1,800, but a minor correction allowed Bitcoin to take over again.

January became the month of records for bitcoin, as the coin not only updated the price maximum, but also recorded a peak increase in trading volume. Now that Bitcoin has returned to the area around $ 40,000, we can talk about the completion of the 30% correction and the resumption of the bullish trend.