At the start of the new year, cryptocurrencies are rising across the board. In particular, Bitcoin has broken through $91,000.
As of 10:44 a.m. on the 4th, on the global coin price tracking site CoinMarketCap, Bitcoin was up 0.98% from 24 hours earlier at $91,017. It is the first time Bitcoin has recovered $91,000 since Dec. 13.
Ethereum, the No. 2 by market capitalization, is also up 0.53% and trading at $3,144. Ripple, No. 4 by market capitalization, is up 0.06% at $2.02, and Binance Coin, No. 5 by market capitalization, is up 0.09% at $881.
The day before, cryptocurrencies also rose across the board for the new year, with Bitcoin recovering $90,000.
This appears to be due to expectations for a new-year rally, the cryptocurrency-focused outlet CoinDesk reported. Bitcoin hit a record high of more than $125,000 in October last year but then plunged as risk aversion surged. It fell to about one-third below its previous peak. However, CoinDesk analyzed that cryptocurrencies appear to be rising across the board on expectations that the market will turn upward this year.