Bitcoin Set to Break Market Cap All-Time High at $17,500

2020-11-18 16:03

Bitcoin price is a mere 12.86% short of its record highs near $20,000. 

However, the realized market capitalization of BTC has already broken its previous highs, signaling on-chain bullish strength.

New Money Pours into Bitcoin

The realized market capitalization calculates Bitcoin’s total value based on the price it was last moved on-chain. 

If an address moved 10 BTC in 2015 when the price was $400, then the transfer’s realized cap will be $4,000. The sum of all the individual transactions on the BTC ledger gives the realized market capitalization. 

While it seems like an undervaluation, the metric helps eliminate the supply of Bitcoin lost over time. Lost Bitcoins implies that the private keys to the BTC addresses are no longer accessible.

Bitcoin price (area graph) and realized market capitalization (line). Source: Coinmetrics

The metric acts as a proxy for the total amount ever spent (in U.S. dollars) on-chain since it uses data from real transfers only. 

Until now, users have spent $130 billion on Bitcoin transactions throughout its history. 

The recent rise in the realized cap suggests a high influx of capital despite such high prices. The average realized price has skyrocketed to $7,000.

The average realized price is a ratio of the realized cap and total circulating supply, signaling the average price buyers paid for their purchases. 

Bitcoin average acquisition price. Source: Coinmetrics

The rise has bridged the gap between market price and average acquisition price. Charles Bovaird, an analyst for Quantum Economics, told Crypto Briefing: 

“It could be a sign that Bitcoin will continue to climb, if people are willing to buy it at higher prices.”

Various Metrics Near All-Time Highs

Bitcoin is close to reaching its all-time high value in total market capitalization terms as well. 

In 2017, when Bitcoin almost touched $20,000, the entire supply was 16.7 million. Since then, its supply has increased to 18.5 million from continuous mining. Therefore, BTC’s market cap is closer than its per BTC unit price to an all-time high.

BTC/USD price and market capitalization. Source: Twitter

Nic Carter, the founder of Coinmetrics and Castle Island Ventures, tweeted, 

“Reminder that the market cap ATH is $17,482 at current supply, $17,456 in a month’s time, or $17,429 in two months. ATH in economic significance comes before unit price ATH.”

Therefore, if Bitcoin’s price surpasses $17,482, it will log a new all-time high in the total market cap.

The above valuation places the premier cryptocurrency on par with chip manufacturer NVIDIA and $6 billion short of Bank of America concerning top companies by market capitalization. 

origin »

Bitcoin price in Telegram @btc_price_every_hour

High Voltage (HVCO) на Currencies.ru

$ 0.0012187 (+0.56%)
Объем 24H $0
Изменеия 24h: 0.13 %, 7d: -0.82 %
Cегодня L: $0.0012066 - H: $0.0012233
Капитализация $0 Rank 8594
Цена в час новости $ 0.0147322 (-91.73%)

high 500 all-time cap set break market

Источник: cryptobriefing.com

high 500 → Результатов: 126


Фото:

Bitcoin Aims High, Is DeFi a Bubble? ICX & DUSK Technicals (and More): Crypto News Roundup

Despite some volatility, the Bitcoin price remained, by and large, stable last week as it hovered in a range between $9,250 and $9,500. The bulls may have a slight upper hand at this juncture. The alpha-crypto broke out from a descending resistance line yesterday and now appears to be aiming for an upward move towards […] The post Bitcoin Aims High, Is DeFi a Bubble? ICX & DUSK Technicals (and More): Crypto News Roundup appeared first on BeInCrypto.

2020-6-23 18:35


Фото:

Pundit Reveals Bitcoin’s Fair Price Based On High Correlation With The S&P 500 Index

Earlier today, Plan B, an investor and prominent cryptocurrency analyst with wide exposure across media channels, expressed his view on the similarity between market behavior of Bitcoin and the S&P 500 index, a benchmark index of 500 strongest players from America’s industry, which could yield positive results for BTC in the future. He expressed his […]

2020-6-18 00:55


Фото:

Current Bitcoin Whale Population Looks Exactly Like September 2017, Just As BTC Ascended To $20K

Over the last few days, bitcoin’s price action has been quite dramatic. On June 15, the bellwether cryptocurrency tumbled below $9k alongside the US stock market which also took a dive. A few hours later, however, the cryptocurrency rebounded to as high as $9,500 after the Fed announced it will begin purchasing individual corporate debt. […]

2020-6-17 14:26


Фото:

Bitcoin Gets Rejected Once More by $10,500 Resistance

On June 1, the Bitcoin (BTC) price broke out from a pattern that had been in place for nearly one month and proceeded to reach a high of $10,380. While this is a very bullish development, the price has yet to move above a crucial resistance area that will likely determine the direction of the […] The post Bitcoin Gets Rejected Once More by $10,500 Resistance appeared first on BeInCrypto.

2020-6-3 19:58


Фото:

With few blocks away from Halving, here’s how Bitcoin has been performing so far today

Today has been extremely volatile for Bitcoin breaking above $9,000 just to crash in the next few hours. We are seeing a 1% price move on 1-minute candlesticks all the time. However, even after such high volatility Bitcoin is still trading around $8,500, the midpoint between $9,200 and $8,000 basically. Looking at the 1-hour chart, […]

2020-5-12 22:00


Фото:

Bitcoin Analyst Who Called $3,200 Bottom in 2018 Thinks This Trajectory Is Next

The past few days have undoubtedly been bullish for Bitcoin, with the cryptocurrency ripping over 20% higher from the mid-$7,000s to a price as high as $9,500 over the course of 48 hours. Since hitting $9,500 though, BTC has stalled, entering a consolidation around $8,800 as the market becomes indecisive, stuck between support around $8,500 and resistance at the ever-important level of $9,000.

2020-5-3 10:03


Фото:

Here’s Why Bitcoin Could Rally to $10,000 Before Seeing a Brutal Decline

Bitcoin’s intense volatility seen yesterday didn’t let up overnight, as the benchmark cryptocurrency pushed as high as $9,500 before facing a swift rejection The crypto has been able to stabilize within the upper-$8,000 region in the time since Analysts are now noting that this strong upwards momentum could lead BTC as high as $10,000, although it may face a brutal rejection at this level that leads it significantly lower Bitcoin and the aggregated cryptocurrency market […]

2020-5-1 21:00


Fractal Analysis: Bitcoin Price Will Rocket 35% Higher Ahead of Halving

Despite the overarching risks of an economic recession, Bitcoin has performed well over the past few weeks, rallying higher and higher over week after week, shunning off bearish narratives. In fact, since the $3,700 bottom, the cryptocurrency has gained over 80%, reaching as high as $7,500 but now trading at $7,050 as of the time of this article’s writing.

2020-4-19 07:33


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru