Bitcoin
BTC$43 287.80

2.05%

Ethereum
ETH$3 010.99

3.55%

Cardano
ADA$2.27

-3.89%

Tether
USDT$1.000700

-0.08%

Binance Coin
BNB$346.18

-1.47%

XRP
XRP$0.947086

0.59%

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 Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 82.4% 35 $43 287.80 2.05% -8.49% $814 966 927 933 $32 680 812 854
2 Ethereum (ETH) ETH Ethereum predictions 72.8% 49 $3 010.99 3.55% -9.89% $354 338 554 947 $21 802 081 769
3 Cardano (ADA) ADA Cardano predictions 60% 80 $2.27 -3.89% -2.90% $72 613 126 112 $5 577 581 472
4 Tether (USDT) USDT Tether predictions 94% 1 $1.000700 -0.08% -0.03% $68 590 944 713 $79 368 686 289
5 Binance Coin (BNB) BNB Binance Coin predictions 66.8% 69 $346.18 -1.47% -14.62% $58 205 321 046 $1 873 086 247
6 XRP (XRP) XRP XRP predictions 70.4% 52 $0.947086 0.59% -10.97% $44 245 636 148 $3 503 428 805
7 Solana (SOL) SOL Solana predictions 66.8% 72 $137.06 -1.92% -13.76% $40 744 147 032 $2 455 458 712
8 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $1.000483 -0.05% -0.03% $31 006 963 781 $3 830 168 851
9 Polkadot (DOT) DOT Polkadot predictions 67.6% 69 $29.44 -3.25% -12.15% $29 070 856 010 $2 592 379 334
10 Dogecoin (DOGE) DOGE Dogecoin predictions 64% 77 $0.205929 -0.86% -12.64% $27 068 780 737 $1 515 174 486
11 Avalanche (AVAX) AVAX Avalanche predictions 56.8% 87 $68.09 -3.41% -4.08% $14 998 710 235 $1 234 318 562
12 Terra (LUNA) LUNA Terra predictions 68.4% 59 $36.34 -4.22% 4.95% $14 536 281 852 $1 625 437 616
13 UniSwap (UNI) UNI UniSwap predictions 64.8% 74 $23.42 20.32% -1.22% $14 325 624 849 $1 167 934 535
14 Binance USD (BUSD) BUSD Binance USD predictions 92.4% 1 $1.000303 -0.07% -0.05% $13 693 477 670 $5 597 328 153
15 Chainlink (LINK) LINK Chainlink predictions 67.6% 70 $25.06 10.18% -9.97% $11 403 176 618 $2 018 605 273

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