Daily market update: Crypto hits total market cap of over $1 trillion for first time
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 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.
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.
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.
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.
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…
Bitcoin has gone up $4,000 today.
Bitcoin was worth $4,000 last year.
— Documenting Bitcoin ? (@DocumentBitcoin) January 7, 2021
A meme in the making
BITCOIN IS A PEER-TO-PEER VALUE TRANSFER NETWORK THAT WILL REPLACE GOLD AND THE DOLLAR AND CAN BE USED BY ANYONE IN THE WORLD TO pic.twitter.com/OWsMwis4r5
— Zack Voell (@zackvoell) January 6, 2021
*Not investment advice from a 76er
Should’ve invested that shit in Bitcoin … https://t.co/9J9VbsiFrx
— Tobias Harris (@tobias31) January 7, 2021
Crypto Twitter hates round numbers…
$38,000 is the next victim. pic.twitter.com/PKPdFWff8l
— Bitcoin Magazine (@BitcoinMagazine) January 6, 2021