For The First Time Bitcoin Passes $40,000 Price Mark

by on January 7, 2021

By Onwuka Gerald

Barely hours after the price of leading cryptocurrency, Bitcoin, sold for $38,000, it on Thursday, reached a record of $40,000.

The progress made by the world’s leading cryptocurrency started in December 2020 when it broke the $19,783 price it previously recorded in 2017.

Even as bearish traders were anticipating that the December rise would drop in no time, Bitcoin continued rising in value with a growth of 13.45% over the last 24 hours.

Bitcoin so far with its overwhelming growth has captured the attention of institutional investments into the cryptocurrency market.

Bitcoin now controls $746 billion of the $1 trillion value of the cryptocurrency market. This value is expected to rise as the Democratic Party is now in control of both the House and the Senate in America.

Meanwhile, other cryptocurrencies like Ripple’s XRP and Ethereum have also enjoyed notable growth in recent weeks.

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