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Price Check: Bitcoin Starts New Year with All-Time High of $34,600

Bitcoin continues to make news headlines, blowing past the $30k mark and even reaching as high as $34.6k for a moment before settling back down to where it is now at just about $31k. This is an absolute all-time high for the king of crypto, and it has brought a lot of assets to all-time highs as well.

Ethereum broke through a similar mental barrier at $1k but still has room to go before getting to its previous high. There seems to be no end in sight to the bull run, and it is becoming more and more risky to not at least invest something in Bitcoin.

Will 2021 be the year that Bitcoin finally snatches the mainstream public's attention for good?

Each week we will also take a look at Bitcoin’s performance, and how it has performed both compared to last year at this time, and its comparative performance to the Dow Jones and S&P 500 Index.

Let us look at the biggest winners and losers of the past week.

Biggest Dollar Increases

Bitcoin’s astonishing ascent has created some huge winners over the past week, its value jumping another 15% resulted in an almost entirely green market chart, and a few assets have hit all-time highs. Here are the biggest gainers from the past week:

  • Ethereum (ETH), ranked 2nd, has gained over 37% and has broken the $1k barrier, but still not at its all-time high, now trading around $1,017.25.
  • Polkadot (DOT), ranked 6th, has gained an incredible 47% and is trading around $9.31 a piece, hitting an all-time high of over $10 yesterday.
  • Cardano (ADA), ranked 8th, has gained over 28% and is trading at over 21 cents a piece
  • THETA, ranked 18th, has gained over 33% after gaining just over 56% last week and is trading around $1.90 a piece.
  • VeChain (VET), ranked 21st, has gained over 32% and is trading at over 2 cents a piece.
  • Celsius (CEL), ranked 22nd, has gained over 33% after gaining 59% last week and is trading around $6 a piece.
  • Uniswap (UNI), ranked 24th, has gained just about 40% and is trading around $5.25 a piece.
  • Dogecoin (DOGE), ranked 27th, is our biggest gainer of the week with over 110% gained, but is still trading at under 1 cent a piece.
  • Synthetix (SNX), ranked 30th, has gained over 28% after it gained just under 35% last week and is trading around $10.19 a piece.
  • FTX Token (FTT), ranked 40th, has gained over 36% and is trading around $7.31 a piece.
  • Sushiswap (SUSHI), ranked 43rd, has gained almost 32% and is trading around $3.61 a piece.

Biggest Dollar Decreases

The next big jump by Bitcoin actually brought up almost all the other assets in the top 50, but there were still a handful that experienced notable loss, especially considering that Bitcoin itself gained 15%. Here are the biggest dollar value decreases over the past week:

  • Ripple (XRP), ranked 4th, is one of our biggest losers of the week with over 18% lost and is now trading around 23 cents a piece.
  • Bitcoin SV (BSV), ranked 14th, has lost just under 3% and is trading around $165.56 a piece.
  • EOS, ranked 15th, has lost a little under 4% and is trading around $2.75 a piece.
  • Monero (XMR), ranked 16th, has lost just over 18% and is trading around $134.99 a piece.
  • NEM (XEM), ranked 19th, has lost over 15% after losing 15% last week as well and is trading around 20 cents a piece.
  • Filecoin (FIL), ranked 35th, has lost over 6% after losing 15% and is trading around $21.19 a piece.
  • Dash (DASH), ranked 36th, has lost just under 20% and is trading around $86.87 a piece.
  • Zilliqa (ZIL), ranked 39th, has lost over 18% as well and is trading at just under 7 cents a piece.
  • Zcash (ZEC), ranked 45th, has lost over 15% and is trading around $58.34 a piece.
  • Waves (WAVES), ranked 48th, is our biggest loser of the week with just over 20% lost and is trading around $5.20 a piece.

Biggest Losers Trading Against Bitcoin

While the assets in the biggest dollar decrease section are the biggest losers of Bitcoin value, there are still a few other assets that have lost value trading for Bitcoin. Almost all assets gained value trading for Bitcoin this week though, so there is less to choose from. Here are some of the biggest losers trading for Bitcoin:

  • Tron (TRX), ranked 17th, lost just over half a percent trading for Bitcoin.
  • IOTA (MIOTA), ranked 37th, lost just under 4%
  • (YFI), ranked 41st, lost just under 2%.
  • OKB, ranke 52nd, lost just under 1%.

Can Bitcoin Hold Over $30k? Is $40k coming?

Bitcoin continues to just answer my questions with little effort, breaking past $27k and getting as high as $34.6k before dropping back down into the $31k where it currently sits. I posed the question as to whether it could hold $27k last week, well that was a silly question in hindsight. There’s nothing to do now but watch as Bitcoin ascends to the moon.

Bitcoin continues to blow its price at this time last year out of the water, as you might expect with an all-time high. On January 4, 2020, Bitcoin was trading at just over $7.4k, so it is over 4x higher than it was last year at this time and was almost 5x at one point over the weekend. Wow.

Bitcoin Operating Outside of Traditional Realm

With a little under one percent lost this week, the Dow Jones Industrial Average and S&P 500 Index, are not even in the conversation when comparing performance compared to Bitcoin. With its 15% gain while both of the traditional markets essentially stood still further signals the decoupling of the crypto and traditional market. With 2021 only just begun, Bitcoin hodlers everywhere are giddy with excitement.

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About the Author

Evan Jones

Evan Jones was introduced to cryptocurrency by fellow CryptoVantage contributor Keegan Francis in 2017 and was immediately intrigued by the use cases of many Ethereum-based cryptos. He bought his first hardware wallet shortly thereafter. He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing.