The XRP price rises 55% to the “crucial” level as Bitcoin hits a new high at USD 38.5,000

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Bitcoin (BTC) continued its habit of hitting an all-time high almost every day on Jan. 7 as bulls took the largest cryptocurrency above $ 38,000.

Cryptocurrency market overview. Source: Coin360

The BTC price is $ 38,500

Data from Cointelegraph Markets, Coin360 and TradingView followed BTC / USD as it cleared another hurdle on the path to the psychologically significant milestone of $ 40,000.

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On Thursday, earnings accelerated and Bitcoin investors posted a 24-hour return of 11.5%. A week ago at the beginning of the year, Bitcoin was trading at USD 28,000.

BTC / USD 1 hour candle chart (Bitstamp). Source: TradingView

As Cointelegraph reported, the largest cryptocurrency along with ether (ETH) and a handful of other altcoins became the best investment game of 2021, and even Tesla stocks are lagging far behind.

TSLA has been the 2020 winner since the coronavirus crash in March, with Bitcoin also being beaten by Ether.

“The next correction will be absolutely painful for all #FOMO buyers,” Cointelegraph Markets analyst Michaël van de Poppe warned Twitter followers as Bitcoin hit another new record high of $ 38,510.

XRP suddenly comes back from the dead

Altcoins, meanwhile, has seen a strange renaissance for the contested number four cryptocurrency XRP.