Another day, a new record high for the Bitcoin price.
The top cryptocurrency printed a new high of $ 41,478 [updated 11:28 UTC] According to CoinDesk 20 data, Friday surpassed the lifetime high of $ 40,123 reached on Thursday. The profits since the beginning of the year are now over 40%.
Bitcoin’s price has more than doubled in less than a month, which is typical of the bull market euphoria.
“Fundamentals are out of the window and irrational exuberance could accelerate Bitcoin past the $ 50,000 level ahead of schedule for the second quarter,” Jehan Chu, managing partner of Hong Kong-based crypto investment firm Kenetic Capital, told CoinDesk.
The price recovery is supported by an increase in on-chain activity and increased accumulation by large investors. According to data provider Glassnode, the number of active addresses has risen to a record high of 1,343,925, surpassing the previous high of December 2017.
Bitcoin’s “rich list” or the number of addresses with at least 1,000 Bitcoin has recovered since the decline in late December and reached a new lifetime high of 2,334.