The price of bitcoin has passed the $ 25,000 handle well, hitting a high of $ 25,890 on Saturday morning (EST). The crypto asset has an overall market valuation of $ 476 billion this weekend, gaining more than 6.8% in the past 24 hours.
Global cryptocurrency market capitalization of all crypto assets in existence today is around $ 665 billion and up over 3.8% on the day. Bitcoin (BTC) has passed the $ 25,000 mark and is currently trading at $ 25,700 per unit. At the time of publication, there was $ 11.6 billion in reported trade volume for BTC trading pairs. BTC is up over 6% for the week, 48% for the last month, and 136% in the past 90 days. Crypto assets against the US dollar over the past year have seen an increase of 250%.
There are 18 mining pools pointing the hashrate SHA256 to the Bitcoin (BTC) network and F2pool leads the pack on Saturday. On the current BTC hashrate of 133 exahash per second (EH / s), F2pool captures 24.3 EH / s or 18.2% of the overall hashrate. Bitcoin’s issuance rate or inflation per year is currently 1.78% on December 26, 2020. As BTC has hit new price highs, gold bug Peter Schiff said regulators would soon attack bitcoin.
“Bitcoin Reaches New All-Time Highs, As Its Dominance Of Total Crypto Market Cap Rises To 69.3%,” Schiff tweeted as BTC jumped above the $ 25,000 handle. “It hasn’t exceeded 70% since March 2017. As regulators target altcoins, speculators are taking cover in Bitcoin. Not for long because Bitcoin will also be in the crosshairs. When an individual asked who the SEC was going to sue and jokingly said “Satoshi,” Schiff replied, “No, just companies that allow Bitcoin trading, or banks that facilitate Bitcoin-related threads. “
Meanwhile, a large number of crypto supporters on social media and forums celebrated the $ 25,000 prize. “Bitcoin just touched $ 25,500. I said a month ago that it would reach $ 25,000 by the end of 2020 ”, an individual wrote on Twitter. Bitgive founder Connie Gallippi tweeted: “Holy Moly $ 25,000, day of the moon – daily bitcoin.”
“Hey Elon Musk, are you buying bitcoin?” another individual asked the founder of Tesla on Twitter.
Michael Saylor, CEO of Microstrategy, the company that has bought thousands of bitcoins to hold in reserve, said that “cash is a safe haven from risk, but there is a price to pay.” “Would you like to sacrifice 98% of your opportunity to avoid the uncertainty of tomorrow?” Saylor tweeted after bitcoin exceeded $ 25,000. “Volatility is vitality. Bitcoin is Hope, ”he added. Stock-to-flow (S2F) creator Plan B wrote: “The start of this bitcoin bull run looks more like 2013 than 2017.”
What do you think of bitcoin hitting the $ 25,000 mark on Saturday? Let us know what you think of this topic in the comments section below.
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