Beginning a rally at the start of 2022, Bitcoin (BTC) and the rest of the crypto market continue to fly upward, showing little signs of slowing down.

The "crypto market place is hot right at present, and what stands out to me the most is that there are plenty of altcoins that are however running fifty-fifty with the strength $BTC is displaying right now," CNBC crypto trader and Twitter personality BigCheds told Cointelegraph in a message on Feb. ix.

BigCheds added:

"Normally when $BTC and other majors [top market place cap altcoins] are hot people ride them, then load alts on pullbacks and sideways consolidation, but with this increased bullish narrative investors and traders are getting cocky and pouring more coin in, and with that many of these alt coin charts are showing signs of bottoming in higher time frames like the weekly chart."

Bitcoin starts off 2022 with a bang

Halfway through December 2022, Bitcoin'southward price dropped to near $6,750. December proved itself the bottom of a lengthy downtrend that started in June 2022, when Bitcoin topped out about $fourteen,000. Many altcoins joined Bitcoin'southward downtrend for the latter half of 2022.

Then far, December 2022 has proven itself as a bear-tendency lesser as Bitcoin continues its journey higher, taking altcoins with information technology.

"Market sentiment has done a complete 180 since striking the low of ~$6900 on Jan 3rd as we were able to build solid support, we have seen consistent moves upward," Crypto trader and social media maven CryptoWendyO told Cointelegraph in a Feb. 7 email.

Bitcoin continues headway

CryptoWendyO noted Bitcoin powered past $9,000, a previously formidable opponent, on Jan. 26, property higher up the level nicely. The asset then rallied past resistance at $nine,500 on February. 5, converting the level to support.

Since Feb. 7, Bitcoin has rallied past $x,300, which CryptoWendyO suspected as an outcome, shown in her comments. "Due to a modify in market sentiment another upward move would put u.s.a. at $10,400 and then $11,200," she said. "Ultimately, the bulls need a intermission and flip of support at $14K to as that was the loftier dorsum on June 26th."

BigCheds said he sees several other signs of positive sentiment beyond the crypto infinite, proverb:

"All in all, we are seeing activeness level pick up across the board, from twitter engagement to youtube view counts, and with that is more than money, more excitement and hopefully some new adventures."

In less positive news, however, wallets allegedly associated with the PlusToken scam recently transferred $123 one thousand thousand in BTC, Cointelegraph reported. Some authorities suspect previous PlusToken liquidations may have caused sure BTC cost falls in 2022.