While many people wait with bated breath for Bitcoin to break one of the more popular milestones – it’s all-time high – the major cryptocurrency has been impressing with a few other key milestones. This bodes well for the future of the coin into 2020, having started with a decent price boom through January.

Bitcoin, having had a pretty stagnant Q4 of 2019, managed to grow by 30 percent in January and register is best first month of the year for seven years. This boom in price has also helped the coin reach a few other key milestones.

A big milestone that cemented Bitcoin as one of the elder statesmen in the cryptocurrency space, and told of a useful tool, was when it crossed the 500 million transaction mark this week. This cumulative milestone was followed by its daily transactions also showing some good growth as today, it managed to hit a five-month high for daily transactions.

All of this is adding to the growth of Bitcoin’s price as it too has been increasing day on day for most of this week, getting ever closer to the important $10,000 mark.

Big things for Bitcoin

The positive start to the year, as well as negative external forces for the global economy, have started shifting people’s perception of Bitcoin and its potential for the year. It has been a long time since the coin had a tear away rally, as it did in 2017, but predictions are that it could come in 2020.

One such prediction sees Bitcoin to $27,000 in the next six months. This is the opinion of Tom Lee who is looking both at Bitcoin, and its halving, as well as global financial uncertainty. In fact, there is more and more evidence of Bitcoin being viewed as a potential hedge should a recession strike.

Altcoins also booming

While Bitcoin is doing well, and hitting impressive milestones, one area where it has shown signs of weakness is in the market dominance. Bitcoin was sitting at 69 percent dominant at the beginning of the year, but that has dropped down to 63 percent recently.

This is not all bad news though as it indicates that some altcoins are doing well, and this is the case. Bitcoin may have risen by 30 percent in January, but others, in the same month, were up 180 percent.