Bitcoin shows no signs of slowing down as the cryptocurrency market continues to expand. Over the past day alone, total capitalization has increased by more than $ 50 billion and is now above the $ 600 billion mark.
Bitcoin Price Surges Above $ 21,000
Earlier today, as CryptoPotato reported, BTC finally managed to break above the coveted $ 20,000 level for the first time in history, thereby charting a new all-time high.
However, to say that everyone expected what happened next would be an overstatement. The price did not consolidate, it did not retreat to establish support – it continued to increase. At the time of this writing, bitcoin was trading at approximately $ 21,400 on Bitstamp.
Earlier today, we discussed potential short-term price levels, most of which have already been hit.
Bitcoin continues its price discovery and it is particularly interesting to see where it would lead next. Of course, during highly volatile movements of this kind, it is essential to stay reasonable, execute trades with a clear strategy in mind and never pursue FOMO-based moves. The market will always present opportunities and capital preservation should be a top priority.
Over $ 2,000 added in 24 Hours
With all of the above comes another positive outcome. Bitcoin has managed to add more than $ 2,000 in the last 24 hours alone.
Currently, the daily candle has a low of around $ 19,227, having peaked at $ 21,464. This was outlined by Blockstream Co-Founder and CEO and well-known proponent of Bitcoin, Adam Back.
Well the first $ 2k candle is on the daily. pic.twitter.com/8z9eQMnEIP
– Adam Back (@ adam3us) December 16, 2020
The rest of the market is also in green, with Ethereum charting a daily 7.6% rise and trading well over $ 630. Ripple’s XRP is also on a rise after slowing for the past few days. The cryptocurrency now stands at approximately $ 0.535, trailing 12.9% earnings on the daily.
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