• Mon. Apr 22nd, 2024

Bitcoin Market Capitalization Figure Smashes All-Time High Record

Phillip Seefeldt

ByPhillip Seefeldt

Nov 18, 2020
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Bitcoin is presently having a swell time in the market on all fronts as its market capitalization figure has peaked, reaching an all-time high figure that was last seen in 2017.

Bitcoin looks to be stabilizing well above its latest $18,000 price mark after the bulls took charge of its progression and catapulted it to the latest price mark. Even though other altcoins have followed the pattern of the leading crypto and experienced little bullish runs, Bitcoin has well extended its dominance figure against them in the crypto market.

Asides from that, another remarkable achievement that Bitcoin has experienced is its new all time market capitalization figure. Notably, the coin has smashed the highest ever market cap volume, which dates back to 2017, despite the crypto price being less than it is now.

Bitcoin makes new records in under one day

People have always described Bitcoin using different terms in the crypto market, but a word that should never be attached to the leading crypto should not be ‘boring.’ The reason for this is not far-fetched; the coin has used the last 24 hours to prove this. Yesterday saw Bitcoin make one of the most remarkable surges in the crypto market after moving from its previous price of $16,000 and currently rests around the $17,850 price mark.

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However, this figure is presently all high time figure for this year. That one moved sparked massive debates among those in the crypto sector, with analysts and experts applauding the recent surge, but the bulls were not done with the coin just yet.

Hours later, the bull decided to take charge of the crypto again, taking it to another yearly high of $18,000. This means that Bitcoin had two new yearly high figures in the space of just hours. After making such a feat, the bears decided it was time for some actions to drive the coin back to around $17,400. In simpler terms, it means that Bitcoin gained about $2,000, then saw a loss of over $1,000 all in the space of just one day.

Ethereum sees a surge to make the new 2020 all-time high

Bitcoin is presently trading around the $18,000 price region, which means it has gained again after a little bearish run. Although Bitcoin is yet to touch its all-time trading price of $20,000, the digital asset has shown just how interesting it could be when it is ready for some action in the market.

Another notable fest is Bitcoin’s market capitalization, which has shattered the record set in 2017 as the coin has registered a market cap of $337 billion compared this year compared to $334 million that it saw.

This feat was possible thanks to the massive number of Bitcoin in circulation that has increased in the last three years. Consequently, the number of coins and the price of the tokens created this new record. Other coins have also followed in Bitcoins stead as Ethereum has seen a price surge of $495 from its previous $490. Notably, Ethereum saw a price decline that pushed it to $455 before making a surge to $480.

Phillip Seefeldt

Phillip Seefeldt

Phillip Seefeldt is a skilled and perceptive news writer known for his comprehensive analysis and engaging writing style. With a commitment to accuracy and a deep understanding of current affairs, his articles provide readers with insightful perspectives and thought-provoking insights.

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