The price of bitcoin jumped well above $ 25,000 reaching a high of $ 25,890 on Saturday morning (EST). The crypto asset has an overall market valuation of $ 476 billion this weekend, gaining more than 6.8% over the past 24 hours.
The general cryptocurrency market capitalization of all existing cryptographic assets today is around $ 665 billion and has increased by more than 3.8% over the course of the day. Bitcoin (BTC) it has passed the $ 25,000 mark and is currently trading at $ 25,700 per unit. At the time of publication, there was $ 11.6 billion in reported trade volume for BTC trading pairs. BTC increased by more than 6% in the week, 48% in the last month and 136% in the last 90 days. Cryptographic assets against the US dollar last year increased by 250%.
There are 18 mining pools pointing out SHA256 hashrate in the Bitcoin (BTC) Rede and F2pool are leading the pack on Saturday. Of the 133 current Bhashashed Exhash per second (EH / s), the F2pool captures 24.3 EH / s or 18.2% of the overall hashrate. Bitcoin’s issuance or inflation rate per year is currently 1.78% as of December 26, 2020. Although BTC has reached new price peaks, the gold bug Peter Schiff said regulators will be looking for bitcoin soon.
“Bitcoin is reaching new records as its dominance of the total crypto market capitalization rises to 69.3%,” Schiff tweeted as the BTC jumped above the $ 25,000 mark. “It hasn’t been above 70% since March 2017. While regulators target altcoins, speculators are protecting themselves in Bitcoin. Not for long, as Bitcoin will eventually be in the sights too. ”When an individual asked who the SEC would sue and jokingly said” Satoshi “, Schiff replied,” No, just companies that allow bitcoin trading or banks that facilitate bitcoin-related transfers. “
Meanwhile, a large number of proponents of cryptography on social media and forums celebrated the $ 25,000 price tag. “Bitcoin has just reached $ 25,500. I said a month ago that it would reach US $ 25,000 by the end of 2020 ”, an individual I wrote on twitter. Bitgive founder Connie Gallippi, tweeted: “Santa Moly $ 25k, Day of the Moon – daily bitcoin.”
“Hey Elon Musk, are you buying bitcoin?” another individual asked the Tesla founder on Twitter.
Michael Saylor, the CEO of Microstrategy, the company that bought thousands of bitcoins to hold as reserves, said “money is a refuge from risk, but there is a price to pay”. “Would you sacrifice 98% of your opportunity to avoid tomorrow’s uncertainty?” Saylor tweeted after bitcoin exceeded $ 25,000. “Volatility is Vitality. Bitcoin is hope, ”he added. Stock-to-flow (S2F) creator Plan B wrote: “The start of this bitcoin bull race looks more like 2013 than 2017”.
What do you think of bitcoin surpassing the $ 25,000 mark on Saturday? Let us know what you think about this in the comments section below.
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