Daily market update: Bitcoin soars to new historical all-time high 🚀

Team Luno
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3 minute read

It was a big day for Bitcoin yesterday, with the cryptocurrency smashing through its old historical all-time high like Bruce Lee’s fist through a wet sponge cake. It’s now within touching distance of $23,000, after rising by more than $3,000 during the past 24 hours.

 

 

We’re now in uncharted territory, land where no one has ever gone before. This is a land of price discovery and there’s no telling where it could go, so be careful out there – don’t invest more than you can afford, do your own research, and don’t hand over anything to anyone on Twitter or Telegram or what-not. Be smart.

 

Here’s a load of numbers and things people have said from across the crypto space. You can even take a look through our beginner’s guide to crypto trading series to get a better idea of what it all means, including in-depth explorations of common strategies, market analysis techniques, and more.

 

The content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

 

All information is correct as of 07:30am GMT.

 

Crypto at a glance

 

Total Market Cap: $553,394,807,516

 

Price Market cap Volume Circulating Supply
Bitcoin $22,245.23 $395.93b $55,018,131,019 18,573,175 BTC
Ethereum $645.62 $73.17b $17,580,646,979 113,865,557 ETH
XRP $0.56 $25.48b $16,977,013,675 45,404,028,640 XRP
Litecoin $92.64 $6.17b $3,429,890,734 66,105,548 LTC
Bitcoin Cash $311.27 $5.86b $4,128,281,325 18,600,863 BCH

 

What bitcoin did yesterday

 

We closed yesterday, 16 December, 2020, at a price of $21,310.60 – up from $19,417.08 the day before. That’s the highest closing price in Bitcoin’s history.

 

The daily high yesterday was $21,458.91 and the daily low was $19,298.32. That’s the highest daily high and the highest daily low ever. This time last year, the price of bitcoin closed the day at $6,932.48 and in 2018 it was $3,252.84.

 

This is a new all-time high price for bitcoin.

 

As of today, buying bitcoin has been profitable for...

 

99.9% of all days since 2013-04-28.

 

Market capitalisation

 

Bitcoin’s market capitalisation is currently $395.93 billion, up from $361.07 billion yesterday. To put that into context, Johnson & Johnson’s market cap is $394 billion.

 

Bitcoin volume

 

The volume traded over the last 24 hours was $55,018,131,019, up from $26,741,982,541 yesterday. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.

 

Volatility

 

The price volatility of bitcoin over the last 30 days is 55.46%.

 

Fear and Greed Index

 

The sentiment remains in Extreme Greed territory at 92, the same as yesterday. The last time the sentiment was lower than Extreme Greed was 6 November, 2020. It’s important to remember that the index doesn’t stay this high very often and a correction could be on the cards.

 

 

Bitcoin’s market dominance

 

Bitcoin's market dominance stands at 65.98. Its lowest recorded dominance was 37.09 on 8 January, 2018.

 

Relative Strength Index (RSI)

 

The daily RSI is currently 64.17. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.

 

Google trends

 

The trend in Google searches over the last 90 days. Google shows this chart on a relative basis with a max score of 100 on the day that had the most Google searches for that keyword. The latest score is 51 – taken from 14 December when the data is last collected.

 

Charts provided by IntoTheBlock.com

 

Convince your Nan cutout of the day

 

Bitcoin broke through 3 major levels in the last 24 hours – $20,000, $21,000 and $22,000. Can it do more today?

 

Twitter sentiment

 

Yesterday, there were 23,260 tweets sent with a positive connotation towards bitcoin, 76,393 with a neutral connotation, and 5,136 were negative.

 

Charts provided by IntoTheBlock.com

 

What they said yesterday…

 

 

Good to see that everyone is keeping calm...

 

 

Scott Minerd here, just in case you were getting too excited...

 

 

A good investment?

 

 

What next?

 

What other data points would you like to see covered in our Daily Report? Let us know on Twitter.

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Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @lunomoney.

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