Bitcoin price inches closer to $30,000 with new all-time highs

Bitcoin (BTC) returned to records on December 30th after a fresh bounce broke the all-time high of $ 28,400.

BTC price nails fresh all time high

Data from Cointelegraph Markets and TradingView showed that BTC / USD hit its existing historical spike during Wednesday’s trading.

In a strong overnight resurgence, Bitcoin confirmed it had no time for bears after briefly falling to $ 25,830 in the past 24 hours.

Daily gains were 7.5% at press time when $ 28,560 became a reality.

BTC / USD 1 hour candle chart (Bitstamp). Source: TradingView

The move brings Bitcoin closer and closer to sealing $ 30,000 as a new psychological level before the end of the year, which seemed all but impossible just a week ago.

However, as Cointelegraph reported, analysts still believe that a reversal could reduce the largest cryptocurrency to the existing support of $ 19,500.

On Tuesday, Cointelegraph Markets analyst Michaël van de Poppe highlighted $ 27,500 as a critical area to pave the way for new all-time highs.

The ether price leads to altcoin gains

The effects on the altcoins with large market caps were clearly felt. Ether (ETH) approached $ 740 after rising 5.5% that day.

Polkadot (DOT) increased the existing strength to achieve a weekly performance approach of 50%.

As before, the exception was XRP, which sustained daily losses of 10% as continued delistings from major exchanges continued to weigh on sentiment. Even so, the troubled coin managed to win back $ 0.20.