Bitcoin recently broke its almost three years record, as Bitcoin’s value is closer to $20,000 than it has been in some years back. Apart from the successful record broken by Bitcoin, other altcoins also benefited from the recent surge. The cryptocurrency recently charted high in current exchanges and has comfortably sat a little under $19,500 in value. The market cap has surged to its all-time high since 2018 because of Bitcoin’s current value and the recent burst of the altcoins.
Bitcoin hits ATH after its recent slip
The unpredictability of cryptocurrency is shown in the current dispositions of the coins. In the past few days, crypto investors have been on their toes with the rapid fall and rise of Bitcoin and other coins. Some days ago, Bitcoin dropped from its healthy $19,500 to a disappointing $16,650, only within some hours. After the abrupt decrease, the Bitcoin’s recovered to the $18,000 in value gradually, before it took its regular place on $19,000
Once the digital asset returned to its all year position, it gradually exceeded $19,000. The increase led to Bitcoin’s new place, especially on specific exchange platforms. On Bitstamp, which is a popular exchange platform, Bitcoin surged to a whopping $19,850 but gradually fell again to a stable figure, just beneath $19,500. Bitcoin is presently valued at slightly below $19,500 on Bitstamp.
Some claims are optimistic that once the cryptocurrency surges above the $19,900 price tag, it will easily flow above the expectant $20,000. Technical analysis shows that the $19,900 has some friction that Bitcoin has to overcome to increase its value significantly. Bitcoin will have to reduce the effects of an unforeseen drop by hanging within the $19,500 – $18,000 price tag if that occurs.
Major altcoins witness surge after thanksgiving sell-off
Following the painful drop in altcoin after the thanksgiving sell-off, investors were constantly changing positions. Some reports show that some altcoins continue to drop in value, but things look perfect for Ethereum. Ethereum surged above its previous $584 price line to up to $600. It is believed that the sudden surge is a result of the expected ETH 2.0, which will be released soon, some sources claim.
Ripple also increased by 4% of trades and value. Binance coin is not lagging with 5% added, regained its previous position in the top 10, pushing Stellar out of the list and Polkadot with an added 2.3% and even Bitcoin cash with 7.5%. Among these recent gainers, Litecoin, still on the top 10 list, added up to 11%, which leaves the coin valued close to $90.
Sushiswap gained immensely from the prices and added 31%, leaving its value at $2. BitTorrent took a 15% gain, Ocean protocol, and Nexo at 10%. The recent price development has significantly helped the market cap gain immensely.
All digital assets market capitalization is presently valued at $584 billion, which it recently hit a few hours ago. This new price tag has exceeded the previous year’s high, which was valued at $582 cumulatively. The new record broken is the highest since 2018.