Bitcoin Price Reaches $37,000

The Bitcoin (BTC) price has reached an all-time high again jumping above the $37,000 zone to $37,400 per coin.

It has been reported that the crypto asset’s market valuation is around $689 billion, as it has seen $26 billion in trade volume worldwide.

However, the entire crypto-economy surpassed the $1 trillion mark on January 6 (Wednesday) evening.

The report said that Bitcoin is up 27% during the last seven days, 91% for the month, and 235% for the 90-day span. It is also up more than 350% against the US dollar for the last 12 months. The Bitcoin network hashrate has also skyrocketed during the last 24 hours as miners are dedicating 162 exahash per second (EH/s) to the BTC network.

Brandon Mintz, the executive at the Bitcoin Depot, said:

“The scarcity of BTC compared to the printability of dollars is likely to attract savvy individuals looking to diversify their assets in the event of a lapse in the traditional financial system. As the adoption rate of BTC increases and the supply remains constant, the value of BTC will only continue to rise.”

Likewise, as BTC crossed a new ATH, digital assets like ETH, ADA, BCH, LINK, and XLM have all seen percentage gains between 8% and 70%.

The price of #bitcoin smashed through the last all-time high again jumping above the $37k zone to $37,169 per coin. #Cryptocurrency — Bitcoin News (@BTCTN) January 7, 2021

Ethereum’s market cap, which is sticking around $138 billion, is partly the reason BTC’s dominance has dropped a few percentages.

Thus, according to exchange data, the entire market cap of all 7,500+ crypto assets is approximately $1,000,395,709,742.

Source: Bitcoin News


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