Bitcoin Price Spikes Over 9% as the Crypto Asset"s Value Nears $15K
The crypto economy has jumped over the $400 billion mark and is now hovering around $414 billion at the time of publication. The largest crypto asset in terms of market cap, bitcoin has climbed over 9% during the last 24 hours steadily marching toward the $15k zone. During the last 30 days, Bitcoin (BTC) has gained over 39% touching a new all-time 2020 high of $14,964 on Bitstamp, Thursday morning. Bitcoin (BTC) is up 9.8% during the last seven days and 27.3% during the last 90 days.
Bloomberg Senior Commodity Strategist, Mike McGlone, expects BTC to go “parabolic” in 2021. “Bitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again,” McGlone tweeted. “New highs are a next potential iteration and may be only a matter of time unless something we don’t foresee trips up the trend of greater adoption and demand vs. limited supply.” Watching the #Bitcoin price chart today is more interesting than watching Netflix. It hit the highest point since January 2018. Hodlers, you were right!
— Nadia (@CryptoNadia) November 5, 2020
Out of 7,594 cryptocurrencies and 32,171 markets, bitcoin’s (BTC) dominance index is around 65.7% on Thursday. Besides BTC’s incredible gains on Thursday, a number of lesser-known coins saw significant spikes that were much larger. Coins such as yoyow, refereum, gifto, ankr, machine xchange coin, deep brain chain, terra, and celsius saw gains between 12-98%. A number of traders and analysts now believe the trajectory toward $20k is imminent. “As we mentioned previously, it was important for Bitcoin to overcome the resistance area near $12,000,” Alex Kuptsikevich, Fxpro senior financial analyst said on Thursday. “Once it was passed, the coin did not have any significant hurdles to jump to repeat the rally towards $20,000. All obstacles were crushed, and now any news background is perceived as positive for the leading cryptocurrency.” Ahead of the November, 15th upgrade, bitcoin cash (BCH) is up 3.4% and trading for $244 per coin. Ethereum (ETH) prices are up 5% on Thursday, as prices have been hovering around $404 per unit. With an overall $414 billion crypto market valuation, there’s $28.5 billion in global cryptocurrency trade volume today.
What do you think about bitcoin nearing the $15k price zone on Thursday? Let us know what you think in the comments section below. Report: Bitcoin Set for its Biggest Breakout Yet MARKET UPDATES | 7 days ago If Bitcoin Passes $14K, Analysts Say Traders "Should Look to $20,000" Instead of Looking Back MARKET UPDATES | Oct 27, 2020 Tags in this story $15K, 14965, Bitcoin, bitcoin cash, BTC, Bull run, Bulls, Crypto asset, Cryptocurrencies, Digital Assets, Market Action, Market Cap, Market Dominance, Market Update, Markets, trade volume, trading
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