Bitcoin value jumps above $31.5k

The price of bitcoin crossed a new all-time high on Saturday morning (EST), surpassing $31k per coin. At around 8:43 a.m., bitcoin jumped to $31,517 apiece on a global trading volume of about $12 billion.

Bitcoin (BTC) surpassed the $31k price zone and jumped very close to the $32k range. The crypto asset jumped to $31,417 per bitcoin at around 8:43 a.m. (EST), reaching another all-time high price range.

BTC is up 5% in the last 24 hours, 15% in the week, 58% in the last month and 187% in the 90-day period. Over the past 12 months against the U.S. dollar, bitcoin (BTC) has risen 315%.

Onchain researcher Willy Woo said people shouldn't emphasize investing in bitcoin at this price, when the price could very well reach $300k. "If you're looking for an entry in HODL Bitcoin in the long term, don't put a dime on the entry," Woo tweeted. "You won't worry about losing a few thousand dollars and not a perfect entry when the price reaches $100k, $200k, $300k a year." Wu added: - The main bull phase is here. Capital inflows have gone crazy.

Since bitcoin (BTC) began its bullish rise, crushing 2017's record high, the crypto asset has yet to see any serious pullbacks. In 2017, BTC suffered roughly four 25-38% losses during the rise. One analyst says the monthly momentum indicator shows we could see a big pullback in the near future.

"Something interesting I'll be on the lookout for (interesting but not actionable per se)," trader Mr. Anderson told his 64,000 Twitter followers. "The last and only time BTC saw a one-month momentum showing this high, we saw a 38% recovery within a month and continued exponentially.

At the time of publication, the entire market valuation of all 7,500+ digital assets was around $800 billion and steadily approaching $1 trillion." The Bitcoin market captures 573 billion dollars of the entire crypto-market economy.

Bitcoin (BTC) currently trades at $31,200 per unit on Saturday, January 2, 2021.