Bitcoin (BTC) hit a fresh psychological landmark on Jan. 2 as the new year kicked off to a flying start for hodlers.
BTC price wastes no time in 2021
After hitting new all-time highs of $29,700 overnight, the pair showed no signs of weakness, retesting the level several times before a final breakout occurred.
The area immediately below $30,000 had proven a source of intense selling pressure throughout the past few days, a setup similar to that which Bitcoin disrupted at $20,000 just weeks ago.
“If you’re looking for an entry to HODL Bitcoin long term, don’t nickel and dime an entry. You’re not going to sweat a few thousand dollars of non-perfect entry when it’s $100k,$200k,$300k in a year,” popular statistician Willy Woo summarized on Friday.
“The main bull phase is here. Capital inflows has gone nuts.”
Mixed reactions for altcoins
Among major altcoins, performance on the day was mixed, with Ether (ETH) staying flat below $740 despite Bitcoin’s latest advances.
Others also saw teething problems, among them Polkadot (DOT), which dropped 6.3% to dent its still strong weekly performance of 60% gains.