Bitcoin and Ethereum Price Explosion Leads Crypto Market Higher - Here’s the Coins to Buy Now
Bitcoin, the world's largest and most popular digital currency, has increased by 4% in the last 24 hours and by more than 15% in the last seven days. Ethereum, the second most valuable currency, is up 14% in a week to $1,420.
The University of Michigan's Consumer Confidence Index rose to 64.6 in early January from 59.7 in the previous month, indicating an uptick in consumer mood across the United States. In contrast to the market's forecast of 60.5, this figure was higher.
El Salvador's Miss Universe 71 representative Alejandra Guajardo wore a Bitcoin-themed dress to the Wednesday night National Costume Show. Francisco Guerrero, a plastic artist, created an ensemble of currencies that paid special homage to Bitcoin.
Guajardo carried a cocoa-bean-decorated colón, the former currency of her nation, and a staff bearing the Bitcoin emblem. The pageant announcer said:
“This look represents El Salvador’s history of currency,”
El Salvador's President Nayib Bukele has been a staunch advocate for Bitcoin despite the fact that its value has dropped by more than 50% since the law went into force.
Although he may have had some influence over Guajardo's pageant attire, he has been involved in supporting multiple BTC adoption projects.
Bitcoin is currently trading at $19,450, with a 24-hour trading volume of $26 billion. Bitcoin is on a tear and has already broken through $19,000, which is currently acting as an immediate support.
A bullish breakout of this level has created more room for purchasing to $19,850, or perhaps higher, to the psychological trading milestone of $20,000.
Bitcoin's immediate support level stands at $19,000, or $18,400. At the same time, the RSI and MACD indicators have crossed into overbought territory.
As a result,
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