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Home » Bitcoin Breaks Above $35,000, Market Cap Hits $650 bln.

Bitcoin Breaks Above $35,000, Market Cap Hits $650 bln.

Kelly Cromley by Kelly Cromley
Jan 6, 2021
in Bitcoin News, Market News, News
Reading Time: 1 min read
0

Bitcoin (BTC) has once again recorded new all-time high by breaching the psychological $35,000. After hitting a high of $35,895, Bitcoin declined slightly to trade at $35,344, reflecting a gain of 13.4% in the last 24 hours. The market cap of Bitcoin, at the time of writing this article was $657.01 billion.

Interestingly, the numero uno crypto underwent strong price correction to $28,000, after reaching $34,800 on January 3. However, the decline did not last longer and the king of crypto rebounded sharply to $31,000 levels in a matter of few hours. After consolidating at $31,000 levels for around two days, Bitcoin broke past $35,000 level.

Notably, Bitcoin has appreciated about 80% after it broke $20,000 level on December 16. The crypto has gained 22% in seven days. The latest peak was hit a day after the US Office of the Comptroller of the Currency permitted national (federally chartered) banks to make use of stablecoins and also public blockchains for payment processing.

< Alongside Bitcoin, Ethereum (ETH) has also broken above $1,000 level. At the time of writing this article, Ether was trading at $1,114 reflecting a gain of 9.8% in the last 24 hours and 51.6% in the past week.

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