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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.

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

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