Bitcoin Breaks Through $37,000, How 'Smart Money' Positioned for the Market in 2021

The digital currency industry welcomed an 'institutional bull market' that pushed Bitcoin to a new high of $37,000. According to CoinMarketCap data, as of the morning of January 7, 2021, Bitcoin's total market capitalization increased by approximately 364% over the past year. As Bitcoin's price broke through its previous high of around $20,000, its price accelerated upward, breaking through the $30,000 threshold in just about 17 days.