The price of bitcoin hit an all-time high during early morning trading sessions at 3:12 a.m. (EST), hitting $ 28,600. The cryptocurrency market valuation is over $ 519 billion on Wednesday as bitcoin markets control more than $ 14 billion in global trading volume.
Bitcoin (BTC) The markets shot up again on Wednesday morning as the unit price soared to a record high (ATH) of around $ 28,600. BTC‘s dominance index, compared to the 7,500+ existing crypto asset valuations, is over 70% or $ 519 billion out crypto-economy $ 741 billion.
Statistics show that BTC is up more than 20% in the past seven days, 41% over the month, 162% over the past three months, and a whopping 288% for the year against the US dollar.
Bitcoin has seen $ 19.28 billion in transaction volume in the past 24 hours. In addition, BTC miners have brought in $ 2.85 million in revenue from 24-hour fees. On Wednesday there are 1,146,131 active bitcoin (BTC) addresses.
A recent report published by the digital currency exchange Luno describes that bitcoin (BTC) “Crashed stock markets this year.”
“The big winner of 2020 is bitcoin, with a huge increase of 269%. This is compared to just 45% for Nasdaq, ”the Luno report notes.
“In 2020, bitcoin finally got the attention of institutional investors,” explains Luno’s week 52 update. “Broad financial markets were volatile during the Covid pandemic, but central banks have stepped in to stimulate monetary stimulus and governments have launched large fiscal stimulus packages. The background to the intervention was a sharp increase in M2 (+ 25%) and the threat of inflation fears. This, in turn, brought institutional attention to Bitcoin, due to the storage of valuable property. “
The web portal bitcointreasuries.org shows that there are now 29 companies with more than 1.1 million BTC or 5.48% of the supply. Based on current exchange rates, the bitcoin treasury list is estimated at more than $ 32 billion on December 30.
As bitcoin prices hit new highs, vocal gold bug and economist Peter Schiff said he believes bitcoiners should be concerned about the U.S. government. “Bitcoin promoters believe Bitcoin is a real threat to central banks and the fiat monetary system,” says Schiff tweeted on Wednesday. Despite this belief, they also believe that the US government, which has the most to lose if bitcoin succeeds, will not take any action to protect itself from this threat.
Shapeshift founder Erik Voorhees disagreed with Schiff’s statement said: “Literally no bitcoiner believes the state will take no action against bitcoin. The whole system was designed with the assumption of total setback, ”added Voorhees.
How do you feel about bitcoin reaching $ 28,600 on global exchanges? Let us know what you think about this topic in the comments below.
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