A quick turnaround for Bitcoin generated 8% daily gains. BTC below $ 30,000 does not hint at a deeper reversal.
Bitcoin price approached $ 30,000 with new all-time high
Bitcoin (BTC) returned to records on December 30, after hitting an all-time high of $ 28,400 with a new recovery.
BTC price hits all-time high
Data from Cointelegraph Markets and TradingView showed that BTC / USD was handling its current historical peak during Wednesday trading.
The daily earnings were 7.5% at the time of writing, with the price coming to $ 28,560.
The move brings Bitcoin closer to the psychological resistance level of $ 30,000 before the end of the year. This level seemed impossible a few weeks ago.
Analysts still believe a reversal could bring the largest cryptocurrency down to the current support of $ 19,500.
On Tuesday, Cointelegraph Markets analyst Michaël van de Poppe highlighted $ 27,500 as the critical area that must still be broken to pave the way for all-time highs.
Ethereum price leads to altcoin earnings
As Ethereum (ETH) was approaching $ 740 after surging 5.5% on the day, the knock-on effect between major top altcoins was clearly felt.
Polkadot (DOT) showed a nearly 50% increase in its weekly performance.
As before, the exception was XRP, which continued to suffer daily losses as the ongoing deregistration by major exchanges further aggravated the sentiment. The troubled coin still managed to get back $ 0.20.