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Home News Bitcoin News

Bitcoin price almost $40,000 as Binance Coin hits $70 ATH

Kamsi King by Kamsi King
February 6, 2021
in Bitcoin News
2 min read
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TL;DR Breakdown

  • Bitcoin advances close to the much desired $40k mark.
  • Binance Coin on the run as it makes an impressive gain to hit $70.

The week started out with Bitcoin price dropping to about $32,000, however, the price has risen very close to $40k reclaiming some of the lost gains. 

Bitcoin Price Rallies Very Close To $40,000

While many have predicted that the price of Bitcoin would hit the $40,000 mark, it stalled around $37,000 for some time. However, the price of Bitcoin spiked to an intra-day high of $39,000, while correcting to a level not far away from it.

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However, Bitcoin is expected to resurge and break past the first resistance area around 40,000, and the final resistance area around $42,000 before it goes on a rally.  If BTC reverses, there are some possible support areas where price might react: the $36,000, $35,140, and $34,000 marks are all support levels which could push Bitcoin price to the much desired level.

Binance Coin (BNB) On The Run, Moves Past $70

The crypto market, on the 4th February, witnessed a great momentum from Binance (BNB) coins when it made an all-time high. Just two days ago, BNB was trading at about a high of $55.40, but right now the coin is trading at $70 breaking above the last set all-time high. 

The month has been bullish for many altcoins, but Binance has recently made some great gains over the course of the week. Binance coin pushed past the $70 mark pushing BNB to the 7th largest coin on cryptocurrency ranking, displacing both LINK and LTC.

Binance Coin is not the only altcoin that has made gains this week; of the top 100 crypto coins, IOTA made an explosive gain of about 34%. While some top altcoins like Polkadot, Chainlink, and XRP recorded slight losses, Binance Coin performed excellently well this week setting a new record for an all-time high.

Tags: cryptocurrency tradingcryptomarket
Kamsi King

Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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