Bitcoin Price Spikes Over 9% as the Crypto Asset’s Value Nears $15K
The crypto economy has jumped over the $400 billion mark and is now hovering around $414 billion at the time of publication. The largest crypto asset in terms of market cap, bitcoin has climbed over 9% during the last 24 hours steadily marching toward the $15k zone.
During the last 30 days, Bitcoin (BTC) has gained over 39% touching a new all-time 2020 high of $14,964 on Bitstamp, Thursday morning.
Bitcoin (BTC) is up 9.8% during the last seven days and 27.3% during the last 90 days.
Bloomberg Senior Commodity Strategist, Mike McGlone, expects BTC to go “parabolic” in 2021.
“Bitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again,” McGlone tweeted. “New highs are a next potential iteration and may be only a matter of time unless something we don’t foresee trips up the trend of greater adoption and demand vs. limited supply.”
Out of 7,594 cryptocurrencies and 32,171 markets, bitcoin’s (BTC) dominance index is around 65.7% on Thursday.
Besides BTC’s incredible gains on Thursday, a number of lesser-known coins saw significant spikes that were much larger. Coins such as yoyow, refereum, gifto, ankr, machine xchange coin, deep brain chain, terra, and celsius saw gains between 12-98%.
A number of traders and analysts now believe the trajectory toward $20k is imminent.
“As we mentioned previously, it was important for Bitcoin to overcome the resistance area near $12,000,” Alex Kuptsikevich, Fxpro senior financial analyst said on Thursday. “Once it was passed, the coin did not have any significant hurdles to jump to repeat the rally towards $20,000. All obstacles were crushed, and now any news background is perceived as positive for the leading cryptocurrency.”
Ahead of the November, 15th upgrade, bitcoin cash (BCH) is up 3.4% and trading for $244 per coin.
Ethereum (ETH) prices are up 5% on Thursday, as prices have been hovering around $404 per unit.
With an overall $414 billion crypto market valuation, there’s $28.5 billion in global cryptocurrency trade volume today.
What do you think about bitcoin nearing the $15k price zone on Thursday? Let us know what you think in the comments section below.
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