The price of Bitcoin is over $30,000 and its market cap is above $560 billion

Bitcoin broke the 9,000 $US barrier yet again on the second day of the new year. The Bitcoin price stood at 30,000 dollars on January 2, 2021. The highest Bitcoin price is 30.850 US dollars, according to the price of Coindesk, the Bitcoin news information network. As of press time, the price of Bitcoin is around US$ 30.615, a rise of 5.03 percent in 24 hours, and the value of Bitcoin transactions in 24 hours is US$ 34.32 billion, with a market capitalization of US$ 569.07 billion.

24-hour price chart source for Bitcoin: Coindesk Bitcoin news information network According to another contract emperor market statistics survey, the entire Bitcoin network has a total of US$159 million over the past 1 hour, and the entire Bitcoin network has a total of US$248 million over 24 hours. 12,163 is the number of warehouses. It was, though, just half a month after the December 16 Bitcoin listing of $20,000.

Daisy, a senior analyst at the Huobi Research Institute, said it was already the starting point for the sector to halve.

“In the previous analysis, it is not difficult to see that the supply reduction factor is becoming stronger and stronger by halving long-term output. The rhythm of institutional entry is orderly from quantitative to qualitative change, the market is still in the stage of continuous rush to raise money, and the epidemic is recurring. There is still the logic of dollar weakness,” he added.

Daisy also feels that, of course, there might be additional reasons once the stock hits a new level. The US SEC recently started to reinforce regulation and clamp down on Ripple. Therefore, there is a new appetite for Bitcoin in the existing economy, in addition to the existing supply and demand variables.

The U.S. Securities and Exchange Commission accused Ripple of issuing unregistered securities on December 22, according to the New York Times, when it sold Ripple, the third biggest digital token, to global buyers. Affected by this, Ripple’s price fell sharply, dipping once to about $0.275.

The case brought before the New York Federal Court held that this hierarchical arrangement means that Ripple is distinct from Bitcoin and can be treated as a security rather than a currency. The corporation has infringed the legislation banning the selling of unregistered securities because Ripple did not declare Ripple as a protection.

Since then, several cryptocurrency exchanges, including Bitstamp, Okex, Binance, and Coinbase, the cryptocurrency exchange that could become the first listed firm, have announced the suspension of Ripple trading throughout the United States.

Daisy said Ripple is a long-established, but highly centralized, asset-rich project that was once the fourth-ranked digital asset by market valuation. This time, faced with a large-scale delisting, a certain number of assets would be released. The troublesome assets have to be converted to high-quality assets by Ripple holders, so Bitcoin has suddenly attracted greater demand. This may be one of the reasons why, at the end of the year, Bitcoin rates are already driven up during the holiday. This time, the improvement of regulation will better see the importance of decentralization, because it has a beneficial influence on Bitcoin at present.