Daily market update: Crypto hits total market cap of over $1 trillion for first time

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It should get boring writing the same thing every day, but perhaps unsurprisingly typing out NEW ALL-TIME HIGH never really loses its thrill. If it gets boring to read, do let us know on Twitter and we can try to phrase it differently next. Contemporary record peak, maybe?

 

For the time being though, it’s not just another new BITCOIN ALL-TIME HIGH ($37,000, see you later) – the total cryptocurrency market cap just surged past $1 trillion for the first time ever. At its prior peak in late 2017, the market’s total capitalisation was just above $760 billion, according to TradingView. How high can it go?

 

 

Here’s your daily look at all of today’s market movements. Use it to make smart and informed decisions that don’t involve using reckless amounts of your money.

 

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 08:00am GMT.

 

Crypto markets at a glance

 

Name Price Price Change (24h) Price Change (7 days)
Bitcoin (BTC) $36,987.42 +2.19% +27.48%
Ethereum (ETH) $1,191.74 +3.72% +60.17%
XRP (Ripple) $0.2919 +28.56% +36.44%
Litecoin (LTC) $165.57 +1.87% +31.70%
Bitcoin Cash (BTC) $440.25 +3.07% +26.84%

 

Total crypto market cap

 

The total capitalisation of the entire cryptocurrency market is currently $1,002527,874,780.

 

What bitcoin did yesterday

 

We closed yesterday, 6 January, 2020, at a price of $36,824.36 – up from $33,992.43 the day before. That’s the highest daily closing price in Bitcoin’s

 

The daily high yesterday was $36,879.70 and the daily low was $33,514.03.

 

This time last year, the price of bitcoin closed the day at $7,769.22 and in 2019 it was $4,076.63.

 

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 $686,995,403,765 – up from $643,541,344,617 yesterday. To put that into context, Tesla’s market capitalisation is now $716.59 billion. Hopefully Bitcoin flips that soon so we can focus on Amazon, which currently has a market cap of $1.575 trillion. That would need the price of one bitcoin to hit around $80,000. Come on everyone, we can do it! Let's put Jeff in his place.

 

Bitcoin volume

 

The volume traded over the last 24 hours was $78,748,294,394. This is among the highest 24-hour trading volumes on record for Bitcoin. 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 72.46%.

 

Fear and Greed Index

 

Unsurprisingly, the sentiment remains in Extreme Greed territory but has fallen to 91, down from 95 yesterday. That’s the lowest it’s been since 30 December, 2020. The last time the sentiment was not in Extreme Greed was 5 November, 2020.

 

 

Bitcoin’s market dominance

 

Bitcoin's market dominance stands at 69.26. Its lowest ever recorded dominance was 37.09 on 8 January, 2018.

 

Relative Strength Index (RSI)

 

The daily RSI is currently 84.96. 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 84 – taken from 4 January.

 

 

Convince your Nan: Soundbite of the day

 

Cash is a refuge from risk, but there is a price to pay. Would you sacrifice 98% of your opportunity to avoid the uncertainty of tomorrow? Volatility is Vitality. Bitcoin is Hope.

 

– Michael Saylor, MicroStrategy CEO

 

What they said yesterday…

 

Quick reminder of just how far we’ve come...

 

 

A meme in the making

 

 

*Not investment advice from a 76er

 

 

Crypto Twitter hates round numbers...

 

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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 @LunoGlobal.

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