Bitcoin
BTC$68 936.57

-0.14%

Ethereum
ETH$2 464.81

-0.38%

Tether
USDT$0.999490

-0.02%

Binance Coin
BNB$559.05

-1.20%

Solana
SOL$162.90

-0.83%

USD Coin
USDC$1.000091

0%

Bitcoin Slices Through $17000 as Market Cap Nears All-Time High


18 Nov 2020

#Bitcoin

Bitcoin (BTC) traded above $17,000 Tuesday at 12:00 UTC for the first time since Jan. 7, 2018, according to the CoinDesk 20 price index. The rise pushes the leading cryptocurrency’s total market capitalization to over $315 billion, just short of its $335 billion record. Since its yearly lows below $4,000 in March, when prices crashed over 50% in a single day, BTC has rebounded by more than 330%. Since Jan. 1, the leading cryptocurrency has gained 130%.

BTC’s “spectacular surge” in 2020 largely mirrors its 2017 trajectory, Ben Zhou, co-founder and CEO of derivatives exchange Bybit, told CoinDesk in an email. One key difference this time, however, is the “infusion of institutional money.” With Monday’s rally, BTC is now trading roughly 15% below its all-time high of almost $20,000 set in December 2017.

Alternate cryptocurrencies (altcoins) are following in bitcoin’s wake. Leading altcoin ether (ETH) is trading at $465 at last check, up 20% this month. Litecoin (LTC) has gained around 30% month to date. Even dogecoin, which stayed quiet after its short-lived TikTok craze in July, spiked nearly 10% Monday, before giving back some of its gains in the afternoon trading hours.

Despite BTC’s strong performance in a predominantly spot market-driven rally fueled by North American buyers, exchange trading volumes remain relatively unimpressive. For example, monthly volume of Coinbase’s BTC/USD trading pair has stayed nearly flat since June.

November could mark a shift in that trend, however, as over-the-counter trading is growing at a steady clip. Halfway through November, volume at the industry-leading desk B2C2 was roughly equal to the whole month of October, said founder Max Boonen in an email. “Market prices can also move on little to no volume,” he added.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 79.6% 37 $68 936.57 -0.14% 1.86% $1 363 382 802 810 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 88% 20 $2 464.81 -0.38% -1.04% $296 800 010 036 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.999490 -0.02% 0.06% $120 515 283 639 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 93.6% 4 $559.05 -1.20% -4.74% $80 558 709 894 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 67.6% 62 $162.90 -0.83% -7.16% $76 693 939 011 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000091 0% 0% $34 896 136 023 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 94.4% 6 $0.506338 -0.34% -1.54% $28 794 766 739 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 62.4% 75 $0.151887 -3.16% 7.10% $22 273 350 128 DOGE 7 days price change
9 TRON (TRX) TRX TRON predictions 92% 3 $0.165000 -0.20% 0.87% $14 264 557 271 TRX 7 days price change
10 Toncoin (TON) TON Toncoin predictions 87.2% 14 $4.85 -0.02% -2.13% $12 331 475 288 TON 7 days price change
11 Cardano (ADA) ADA Cardano predictions 89.6% 9 $0.334545 -3.17% -0.97% $11 707 414 451 ADA 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 95.2% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 91.6% 1 $65 806.83 0.78% -2.68% $10 083 957 608 WBTC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 84.4% 29 $0.000017 -1.58% -0.35% $9 998 232 158 SHIB 7 days price change

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