Bitcoin rose again, close to 36,000 USD, surpassing XLM, ADA
The most famous cryptocurrency, Bitcoin (BTC), quickly reached US$36,000, with an unexpected double-digit rebound the day before correcting the decline. Most other major cryptocurrency resources are also growing. (Updated at 08:33 UTC time: all content has been updated).
At pixel time (08:28 UTC), BTC converts to $34,680 and grows by 10% during the day and 22% during 7 days, with monthly profits as high as 85%. On January 2, Bitcoin reached $30,000.
Considering that the second-largest cryptocurrency by market capitalization, Ethereum (ETH) also grew (+7% to $1,106), Stellar (XLM) returned to the club's top ten, rebounding from 66% of the intraday. About $0.27. Cardano (ADA) is the second-best coin among the top 10 clubs (+27% to $0.286).
In addition to XRP, other important currency standards also rose by 2-5%, while XRP fell by 2.5% in one day.
“Bitcoin has entered a new evaluation period, which is mainly due to the increased interest of organizations in computer resources. We did not notice the increase in retail inventory because of the slow and slow search speed.He said that with the increase in institutional investment, the Retail Association is likely to continue to revitalize an actively developing market in the first quarter.
He added: “Despite the positive changes in the traditional world economy, Bitcoin has successfully established itself as a legal resource in 2020 and will continue to flourish in the financial sector.” He warned that there will be drastic changes during the boom. turmoil. Consequences When the BTC whale starts charging, this situation is very rare, and it is very likely to be unstable.
As far as the knowledge level of Glassnode cryptocurrency is concerned, the advantage of traditional retailers in Bitcoin is growing, and the number of addresses with non-zero BTC has reached an unparalleled maximum, exceeding 33 million. However, the number of new daily BTC addresses has not yet reached the level of 2017.
"Therefore, these measures indicate the existence of a smart, sustainable market that does not lead to development."
According to the well-known BTC expert Willie Wu, consumption of local stocks has stagnated, which means that the re-accumulation period of the big cycle may end.Willie Wu said: "Because we most certainly know that funds are buying discounts, the balance of funds indicates that retail customers are now buying in large quantities due to the re-appreciation of value." In the Glassnode blog post.
As stated by Constantin Richter, CEO and organizer of Blockdaemon, the third Bitcoin split shows that 300,000 BTC will be withdrawn this year, compared to 600,000 BTC in previous years.
“In today's low-liquid bitcoin, most cannot reserve 300,000 for outstanding commercial profits. This is due to the global coronavirus crisis (new funds are needed to support expansion). " He said, "This is an example of a flywheel movement: most stocks and popularity may increase, resulting in increased demand due to rising costs."
As Richter pointed out, while the BTC cycle is inherently remarkable-administrative changes in some major countries can have a huge impact on bitcoin's next big obstacle is $50,000.