The price of Bitcoin continues to move north as the value of the crypto asset hit another all-time high (ATH) this week, reaching $41,970 per coin on Friday morning (EST). The digital asset Bitcoin is now the seventh most valuable asset in the world, with a total market value of approximately $778 billion today.
Last week, cryptocurrencies all over the world made huge gains, and this week Bitcoin (BTC) reached multiple historical highs. BTC touched another ATH on Friday morning (EST), reaching as high as $41,970 per coin at 10:00 AM (EST). At the time of writing, the price of Bitcoin has dropped a bit and the exchange is $41,900 per unit. After quickly hitting a price drop of 40k USD at 1:48 pm on Thursday afternoon well over the 10% range to 36,388 USD, the crypto asset fell sharply yesterday.
Today, the market value of Bitcoin is hovering in the range of $778 billion, and last Friday’s global trading volume was $34 billion. Hashrate dropped a bit after reaching above 165 exahash per second (EH/s), and the hashrate of BTC is now only 135 EH/s. There are still about 18 mining pools on Friday, with F2pool leading by 24.5 EH/s. Today’s top trading pair with BTC is still Tether (USDT) because it accounts for 49% of today’s daily trading. This is followed by currency pairs such as the US dollar (20.12%), the Japanese yen (7.95%), the euro (5.92%), the US dollar against the US dollar (4.69%) and the Korean won (3.16%).
BTC rose more than 8% today, 41% this week, 123% in the past 30 days, 267% in the 90-day range, and the exchange rate against the US dollar rose 431% throughout the year. In terms of market value, the second largest crypto asset is Ethereum (ETH), with a price of $1,253 per unit. ETH has performed very well this year, rising 72% this week, 119% in the past 30 days, and 238% in the past 90 days. The exchange rate against the US dollar has reached 812% in the past 12 months. Beginning three years ago, the price of each coin of Ethereum was $1,431, and the price of Ethereum still reached 13.35% of ATH.
#Bitcoin The value now exceeds Facebook. Carpe Diem.
Of course, the cryptocurrency community is excited about bullish prices, and many people have been saying that we still have a reasonable price method. Morgan Creek co-founder Anthony Pompliano, Discussed this topic Yesterday, in CNBC’s “Fast Money” program, it was stated that one day Bitcoin will be far superior to gold. Pompliano told CNBC’s Melissa Lee, “Bitcoin is a 10 times improvement over gold” and “We will one day see a Bitcoin price of $1 million, which is only 2 times the market value of gold.” Bitcoin’s $778B market value is now Only about half of the market value of silver, which is about 1,700,000 metric tons of .999 Ag.
In response to Pompliano’s cameo on Fast Money, Microstrategy’s Michael Saylor Said“Gradually, suddenly, investors began to shockingly realize that gold is a zombie store of value.” Similarly, Bitcoin bull Chamath Palihapitiya also spoke on CNBC and told the broadcaster that BTC will reach $200,000. Palihapitiya talked about distrust of governments and central banks around the world, and said that first it was US$100,000 and then US$200,000.
Analyst Willy Woo made some comments on Twitter, and he believes that we may never see the $20,000 price zone again. “Update”, Hu Tweet. You will never see $20,000 again, and $25,000 will require a black swan to pierce it, adding $500 a day. $30,000 is a strong support. Once BTC reaches its peak (rapid change) in the current structure, the maximum expected retracement amount is 30%. “He added.
After the statement about BTC, one person asked Woo his thoughts on the ETH rebound. “ATH is a beautiful thing. It’s like discovering that assets enter outer space with freely flowing prices. ETH is about to do so,” Woo Response.
What do you think of Bitcoin’s transaction that broke through $40,000 and captured more than $41,000 in earnings on Friday? Let us know your thoughts on this topic in the comments section below.
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