The crypto asset markets have seen some significant gains over the past 24 hours, making up for much of the losses suffered a few days ago. The overall valuation of the crypto-economy is now back above the $ 1 trillion mark, and Bitcoin topped the $ 40,000 mark on Jan. 14.
Bitcoin (BTC) and a number of other digital assets have seen some nice price increases on the last day. Profits that nearly wiped out the losses on Sunday and Monday. Bitcoin’s market capitalization is around $ 734 billion today, and the crypto asset is up over 11% in the past 24 hours. At the time of publication, BTC is trading hands for prices between $ 39,200 and $ 39,700 per unit and today has a global trading volume of $ 23 billion. Ethereum (ETH), the second largest market capitalization, is also up over 11% today, trading for $ 1,236 per ether.
On January 14, 2021, the BTC / USD price hit a high of $ 40,113 per share. As of press time, the price will switch hands for over $ 39,000 per unit.
The fourth largest market valuation belongs to XRP, but the position is very close to the crypto asset Polkadot (DOT). XRP trades for $ 0.30 per share on Thursday and has a market valuation of around $ 13.6 billion. After XRP, the market is Polkadot (DOT), which has gained a whopping 21% over the course of the day. DOT trades for $ 12.79 per unit and has a market capitalization of around $ 12.1 billion. Behind DOT is Litecoin (LTC), which is also up 11% today and trades for USD 154 per LTC. Bitcoin Cash (BCH) accumulated 12% in profits on Thursday and rose to $ 535 per BCH. Currently, BCH is trading at $ 526 per coin at the time of publication.
The crypto economy has regained a market cap of $ 1 trillion.
The last three top ten competitors include ADA (plus 8%), XLM (plus 7%) and BNB, which today achieved a touch of over 6%. Today’s biggest winners include Hedgetrade (HEDG + 296.88%), Idle (IDLE + 81.56%), Insights Network (INSTAR + 62.47%), Coinmeet (MEET + 47.68%) and Keeperdao ( ROOK + 46.24%). The biggest losers on Thursday are coins like Fuzex (FXT -49.46%), Robotina (ROX -45.05%), Dragonchain (DRGN -42.81%), NeuroChain (NCC -25.88%) and Bitcore ( BTX -25.30%).
The recent surge in value has given many supporters of the cryptocurrency more confidence after last Monday’s losses.
“Welp, that was a fast bear market,” tweeted Bitcoin advocate Anthony Pompliano on Thursday. “Bitcoin back to $ 40,000. Stop listening to skinless fools play, ”added Pompliano.
Plan B’s stock-to-flow diagram (S2F) published on January 14, 2021.
The inventor of the stock-to-flow Bitcoin pricing model, Plan B, also tweeted about the price jump after the crypto asset topped $ 38,000. In Plan B it says:
Bitcoin $ 38k is nice, but I’m still waiting for that bigger monthly jump that usually marks the phase transition / point of no return (red arrows).
Civic founder Vinny Lingham, also known as “Oracle”, also discussed the price on Thursday and made another prediction.
“If Bitcoin breaks $ 42,000, it will test $ 50,000 pretty quickly,” Lingham tweeted. “If not, we will most likely get stuck below $ 40,000 for a while and consolidate sideways [and] This can spark a big run on altcoins. Keep an eye on ETH, FIL, SOL when there are major outbreaks, ”added Lingham.
What do you think of the recent cryptocurrency gains and the bitcoin jump over the past 24 hours? Let us know what you think on this matter in the comments section below.
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