New Year's Rally: Bitcoin Surged Over $34,000 with Further Correction

The leading cryptocurrency has surpassed $34,000 for the first time in history, extending the record holiday rally, thus celebrating the 12th anniversary of the Bitcoin network quite well. Prior to that, the price of BTC on Saturday, January 2, crossed the $30,000 mark.

On Saturday night, Bitcoin continued to rise, setting a new all-time high of $34,778.11 (on Binance) on the third day of 2021. However, the price of the asset did not stay at this level for long: Bitcoin went into correction, and on January 4, it made a sharp drop to almost $28,000.

In the early days of 2021, the growth was demonstrated not only by Bitcoin. Ethereum and Cardano showed a sharp increase of more than 30%, which was also consistently corrected along with Bitcoin. ETH has surpassed $1,000 per coin, for the first time since 2018.

At the time of writing, Bitcoin is trading at $30,400 per coin, trying to win back losses after the sharp decline.

Image courtesy of Free Bitcoin