Fun

Bitcoin Posts a 66-Day Consecutive Streak Above the $10K Price Range

News Feed - 2020-10-02 05:10:47

Bitcoin Posts a 66-Day Consecutive Streak Above the $10K Price Range


The Bitcoin network has achieved a few new milestones during the last week, as the price has remained above the $10k range for a record 66 consecutive days. Meanwhile, the network has surpassed 18.5 million bitcoin issued, as the global hashrate coasts along at an all-time high of 140 exahash per second (EH/s).


As of today, October 1, 2020, bitcoin (BTC) has closed above the $10,000 price range for 66 straight days. The last time BTC saw the price stay above $10k consecutively was on December 1, 2017, when the crypto asset posted a record 62-day streak.


Coin market capitalization web portals show there are over 7,000 digital assets in existence and BTC’s overall market valuation represents 57% of the $350 billion aggregate total. Statistics show BTC is down over -8% during the last 30 days, but up +20% for the last 90 days and up +29.7% against the USD in 12 months.




The 66-day streak above $10k has also seen some higher prices as the top digital asset topped $12.5k within the timespan. The streak only counts the day’s closing prices, as BTC had dropped below the $10k region on September 3rd, 4th, 5th, 7th, and 8th to the $9,800 range.


Despite managing to drag the BTC price below $10k, all of these instances saw the crypto asset close the day above the psychological price point.




Meanwhile, BTC touched another milestone this week, as miners have minted over 88% of all the BTC that will ever circulate. Bitcoin’s current money supply or the number of coins in circulation today is 18,504,918 BTC at 9:30 a.m. EST on October 1st. Currently, the BTC issuance rate or inflation rate is around 2.9% after dropping from 3.6% measured at the end of February 2020.


In the midst of the 66-day streak and over 88% of the BTC supply being issued, the Bitcoin network hashrate has been higher than ever. At the time of publication, BTC’s overall SHA256 hashrate is riding above the 140 exahash per second range (EH/s).


Today there are 18 publicly known mining operations hashing away at the BTC chain and the mining pool Btc.com captures over 16% of the network hashrate. This is followed by mining operation F2pool (14.15 %), Poolin (12.44 %), Huobi (10.24 %), Antpool (9.51 %), and Viabtc (6.83 %) respectively.


Today, BTC has been trading between $10,500 to $10,850 with an aggregate market cap of over $190 billion. Bitcoin’s price slid during the mid-afternoon (EST) trading sessions on Thursday by 4%. Bitcoin enthusiasts, traders, and speculators now wonder how long the current $10k streak will last.


What do you think about bitcoin’s 66-day $10k streak? Let us know what you think in the comments section below.Bitcoin Is Undervalued, Fair Value Price Should Be $15,000, Says AnalystMARKETS AND PRICES | 7 days agoKeiser Insists "Bitcoin Inversely Correlated To USD Not Stock Markets" After Crypto Market TumbleMARKETS AND PRICES | Sep 23, 2020Tags in this story$10K, 10000 price range, 66-day streak, All time high, Bitcoin (BTC), Bitcoin Price, BTC, BTC Price, crypto assets, cryptocurrency markets, Hashrate, Immutable Records, inflation rate, Markets, Miners, Mining Distribution, Pools, Prices


Image Credits: Shutterstock, Pixabay, Wiki Commons, Markets.Bitcoin.com, Charts.Bitcoin.com,Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimerShow comments

News Feed

CMT-Verified Analyst Reveals When To Buy Bitcoin As Heikin Ashi Candle Turns Bearish
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
The ‘Lunatic’ Movement: A Look at Terra LUNA’s Inception and the People That Helped Do Kwon Rise
The "Lunatic" Movement: A Look at Terra LUNA"s Inception and the People That Helped Do Kwon Rise After the LUNA and UST meltdown, many crypto investors have been curious about the
NBA’s Dallas Mavericks’ Shop to Give Rewards to Customers Paying With Dogecoin and Other Cryptos
NBA"s Dallas Mavericks" Shop to Give Rewards to Customers Paying With Dogecoin and Other Cryptos The professional basketball team owned by the billionaire Mark Cuban, the Dallas Ma
Turner Wright5 hours agoGenesis announces winding down of crypto trading servicesIn January, Genesis Global Capital announced it would eliminate its crypto spot trading services “voluntarily and for business reasons”
Gracy Chen6 hours agoExpect new crypto regulations to follow Bitcoin ETFsWill Bitcoin ETFs attract more regulatory attention to the crypto industry? We can only hope, because many questions need to be answered.3293 Total
Bahamas-Based Deltec Bank Holds a ‘Large’ Bitcoin Position
Bahamas-Based Deltec Bank Holds a "Large" Bitcoin Position Bahamas-based Deltec Bank & Trust said during a recent video review that it’s holding a “l
Bitcoin Price Targets 3-Week Losing Streak in $14 Billion Overnight Wipeout
Bitcoin price fell sharply on Thursday"s trading to land around the $9,500 level. | Source: Shutterstock By CCN Markets: The bitcoin price crumbled overnight, breaching the psychol
Dogecoin Price To Enter Phase E After Testing Last Point Of Support, Here’s The Target
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Ukraine Targets Russian Politicians’ Crypto Wallets as Russian Banks Are Cut From SWIFT
Ukraine Targets Russian Politicians’ Crypto Wallets as Russian Banks Are Cut From SWIFT Ukraine is now trying to expose cryptocurrency wallets used by politicians in Moscow amid
FOMC Preview: What The Crypto Market Can Expect From The Fed
Este artículo también está disponible en español. As the Federal Open Market Committee (FOMC) meets today, the crypto market’s focus is on the Federal Reserve’
Greenidge Joins Foundry USA, Deal Gives Bitcoin’s Fifth-Largest Pool 800 Petahash
Greenidge Joins Foundry USA, Deal Gives Bitcoin"s Fifth-Largest Pool 800 Petahash Greenidge Generation Holdings Inc., the mining firm based in Upstate New York,
Biggest Friend.tech whale dumps tokens as users struggle to claim airdrop
Zoltan Vardai13 hours agoBiggest Friend.tech whale dumps tokens as users struggle to claim airdropThe largest Friend.tech whale has sold all their holdings, causing the new token to fall over 50% in value while other use