Bitcoin exceeds $ 31,000: 700% gains since the low of March

Charlie Taylor


After an incredible year of 2020 for Bitcoin, crypto begins the new year over the $ 31,000 barrier. Bitcoin's dominance is also breaking records as most alternative currencies are behind.
After a brief dip below $ 29,000, BTC rose once again to a new all-time record, reaching a price of $ 31,000 shortly after exceeding $ 30,000. Most altcoins were unable to follow bitcoin movements, and BTC's dominance over the market increased to 71.49%.
Bitcoin has recorded an unbelievable return of approximately 700% since the March 2020 low recorded on March 12 – Black Thursday. On that date, Bitcoin dropped to $ 3,650 at BitMEX. However, since then, the cryptocurrency has seen only one bullish direction.
With the new historic high, the notorious Bitcoin Profitable Days chart, which indicates which days it was profitable to buy bitcoin, shows a 100% result. Even those who only bought during times of high bitcoin, at the end of 2013 and 2017, for example, are today in profit if they kept the coins well.Coinext 760x150

Alternative cryptocurrencies, in general, have not kept up with Bitcoin

While BTC is continually moving towards new highs, most altcoins have failed to stand out. Chainlink, Cardano and Binance Coin are located at roughly the same prices as yesterday.
Ethereum (3.79%) and Bitcoin Cash (2.7%) added slight gains, while XRP (-3%) is down.
Monero (XMR) is the most significant loser among the first fifteen crypts. After several days of high, the XMR dropped by more than 14% to $ 143.19 at the time of publication of this story. The privacy-focused cryptocurrency has been removed from the Bittrex broker, along with Dash and Zcash, other altcoins that focus on development around anonymity.
Variation of the main cryptocurrencies. Source: Quantify Crypto.Variation of the main cryptocurrencies. Source: Quantify Crypto.
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