HomeCoinsEthereum (ETH)Market Update: Bitcoin Nears $13,000, Holds Record-Breaking 87-Day Streak Above $10K

Market Update: Bitcoin Nears $13,000, Holds Record-Breaking 87-Day Streak Above $10K

- Advertisement -

1597272304 211 Bitcoin and Gold Correlation Reaches Record High 70 Bolstering BTCs

Cryptocurrency markets have seen intense gains on Wednesday after the payment processor Paypal announced it would be supporting digital currencies. At the time of publication, the market cap of all 7,000+ digital assets has gained 5.6% hovering above $379 billion during the afternoon trading sessions.

Digital currency markets have increased a great deal during the last 24 hours as the aggregate crypto market capitalization is nearing $400 billion. The price of bitcoin (BTC) spiked on Wednesday morning after Paypal revealed cryptocurrency support during the morning trading sessions.

BTC has gained 7.1% during the last seven days and the price is close to touching $13k per coin. During the last 30 days, BTC is up 22% and over 76% year-to-date. At the time of writing, BTC is currently swapping for $12,839 a unit.

1603302212 134 Market Update Bitcoin Nears 13000 Holds Record Breaking 87 Day Streak Above

Behind BTC, is ethereum (ETH) which has gained 6.9% during the last week as the coin is currently trading for $397 per unit. ETH is followed by tether (USDT) and XRP which is up 4.4% today at $0.25 an XRP.

The fifth-largest market cap is held by bitcoin cash (BCH) and its markets have gained 7.1% on Wednesday. BCH is trading for $261 per coin and is up 22% for the last 30 days and 26.9% for the last year.

Market Update Bitcoin Nears 13000 Holds Record Breaking 87 Day Streak Above

No one’s quite sure where bitcoin and the rest of crypto markets will go from here but bitcoin (BTC) is inching toward a key macro level. BTC’s price is higher than it was in mid-August and slowly approaching the 2019 all-time high (ATH).

On June 26, 2019, the bitcoin (BTC) ATH that day touched $13,796 per coin. This means at today’s price of above $12,800 per coin, BTC will need to gain more than 7.5% to surpass the June 2019 ATH.

A number of crypto proponents are attributing Wednesday’s bullishness to the Paypal news but also the number of firms joining bitcointreasuries.org as well. Furthermore, traders are eying bitcoin futures and options markets as well, as bitcoin options traders are prepping for big moves ahead.

In addition to BTC nearing the $13k zone, the cryptocurrency has stayed above $10k for 87 days straight which means the 62 day run in 2017 has been broken.

What do you think about the positive action within crypto markets during the last 48 hours? Let us know what you think in the comments section below.

Tags in this story
Analysts, BCH, Bitcoin, Bitcoin (BTC), bitcoin cash, bitcoin cash BCH, bollinger bands, BTC, crypto cap, Crypto markets, DeFi, Ethereum, market, Market Cap, Market Caps, Markets, Price Volatility, Prices, Tether, Traders

Image Credits: Shutterstock, Pixabay, Wiki Commons, Tradblock,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



Source link

- Advertisement -
profile logo 500x500
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,445FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 39,779.00
ethereum
Ethereum (ETH) $ 2,384.95
tether
Tether (USDT) $ 0.998299
bitcoin-cash
Bitcoin Cash (BCH) $ 512.09
litecoin
Litecoin (LTC) $ 138.15
eos
EOS (EOS) $ 3.93
okb
OKB (OKB) $ 16.25
tezos
Tezos (XTZ) $ 3.06
leo-token
LEO Token (LEO) $ 2.70
cardano
Cardano (ADA) $ 1.34
monero
Monero (XMR) $ 228.64
stellar
Stellar (XLM) $ 0.275194
chainlink
Chainlink (LINK) $ 19.57
huobi-token
Huobi Token (HT) $ 10.30
tron
TRON (TRX) $ 0.062556
usd-coin
USD Coin (USDC) $ 0.995043
dash
Dash (DASH) $ 154.30
neo
NEO (NEO) $ 34.85
iota
IOTA (MIOTA) $ 0.788122
nem
NEM (XEM) $ 0.167637
zcash
Zcash (ZEC) $ 108.67
maker
Maker (MKR) $ 2,784.29
paxos-standard
Paxos Standard (PAX) $ 0.998335
ethereum-classic
Ethereum Classic (ETC) $ 53.00
vechain
VeChain (VET) $ 0.087412
true-usd
TrueUSD (TUSD) $ 0.995028
ftx-token
FTX Token (FTT) $ 32.53
kucoin-shares
KuCoin Token (KCS) $ 10.22
waves
Waves (WAVES) $ 16.22