At any point of the digital transition,…
In the middle of a historical day in the US, during which its price soared by 7%, Bitcoin yet again breaks the all-time high. For the first time today, the valuation of the entire cryptocurrency industry surpassed the trillion-dollar level.
The leading cryptocurrency is once again breaking the all-time record in the wake of a remarkable day in the US, where the US dollar’s value was at a 3-year low. The price of Bitcoin rose to $ 37,736 on Thursday morning, around 7:30, after a daily jump of about 7 percent – its highest level ever.
As the US Congress returned to discussing the confirmation of Joe Biden’s victory in the US presidential election, the price of Bitcoin soared this morning. Washington Police report that four people were killed at a Capitol Hill protest rally, and three members of the staff of President Trump resigned in protest.
At its height, on Thursday morning, Bitcoin’s market valuation (NYSE: BTC) hit $701 billion – around 68 percent of the overall value of the crypto market, which, according to CoinMarketCap, is close to 8,200 digital currencies. For the first time today, the size of the entire crypto-currency industry reached the trillion-dollar threshold.
In its market cap, the second cryptocurrency, Ether, has soared over 9 percent in the last day and is reaching its all-time high. This morning, for the first time since January 2018, Ether, the currency of the blockchain network Etherium, crossed the $ 1,200 mark. It has been almost three years since the currency of Etherium set its all-time record on January 13, 2018, at $ 1,432. The currency rally did not, however, launch this year: Ether’s price (NYSE: ETH) ended December 2020 with a 26 percent monthly rise – and achieved an annual leap of 471 percent.
Just a day after it first passed the $ 36,000 mark, the all-time high in the price of bitcoin, which is reaching the amount of $ 38,000, was posted. Bitcoin is completing a weekly leap of about 30 percent in its price at its height this morning and is maintaining a run of more than three months, the end of which does not appear close. Experts around the world describe the rally of Bitcoin largely in the rising market for cryptocurrencies by major investors, who see Bitcoin as a hedging instrument against the increase of inflation and the erosion of the value of the US dollar. Since dropping more than 8 percent in the past year, the US Dollar Index (DXY) is currently at 89.49 points.
After an annual leap of more than 300 percent, Bitcoin, the biggest currency in the cryptocurrency industry, finished 2020 seven days ago at a price of $ 29,000 . The price of bitcoin grew by 54 percent in December alone – and it completed a leap of around 170 percent in the last quarter of 2020.