Bitcoin hits $ 40,000 and overturns Tesla

Crypto at a glance

Bitcoin price continues to hit new highs, jumping above $ 40,000 like Tigger did on amphetamines before a sharp correction caused $ 3,000 to plummet in less than an hour.

You can’t keep a good cryptocurrency low, however, and the oldest in the world was soon back in action, hitting around $ 39,000 again. That kind of volatility is to be expected in a bull market as people take profits – which maybe doesn’t make it any less nerve-wracking when it does, but this is cryptocurrency, and those of us who have been around for a while have learned to use it to roll punches.

about GIPHY

Elsewhere, Ether also saw a brief retracement before returning to the $ 1,200 level where it appears to be making a home. In case you missed it, Ethereum was among the top 100 assets by market cap due to its recent price boom. It is currently 99th on the list – 1 place above Morgan Stanley. It’s somewhat less good news for other alts, however, many of whom have seen corrections in the past 24 hours after a week of strong gains – although they can certainly still consider the past 7 days a success, with the majority in the green .

In the markets

The bitcoin economy

What Bitcoin did yesterday

We closed yesterday, January 7th, 2020 at a price of $ 39,371.04 – from $36,824.36 the day before. This is the highest closing price in history and the sixth day in a row that Bitcoin price closed above $ 30,000.

Yesterday’s daily high was $ 40,180.37 and the daily low was $ 36,491.19. Again, these are both the highest daily highs and the highest daily lows in Bitcoin’s history.

Around this time last year, Bitcoin price closed the day at $ 8,163.69 and in 2019 at $ 4,025.25. That’s an increase of 382% in one year and an increase of 878% in two years.

To date, buying Bitcoin has been for …

99.9% every day since April 28, 2013.

Market capitalization

Bitcoin’s market capitalization is currently $ 723,838,674,236 – from $686,995,403,765 yesterday. Bitcoin briefly flipped Tesla’s market cap yesterday before the automaker got back on its feet to take the lead again. However, Bitcoin is now less than $ 50 million away from flipping Facebook ($ 765.44 billion), which would at least make the Winklevoss twins very happy.

Bitcoin volume

The volume traded in the last 24 hours was $ 88,912,335,689from $ 78,748,294,394 yesterday. This is one of the highest 24-hour trading volumes Bitcoin has ever seen. High volumes can indicate that a significant price move has stronger support and is more likely to last.


Bitcoin’s price volatility over the past 30 days is 72.72%.

Fear and greed index

The mood continues its marathon series in the area of ​​extreme greed and is back again 93The last time the mood wasn’t in Extreme Greed was November 5th, 2020. It is important to keep in mind that the index doesn’t stay that high very often and can mean that a correction is planned. although this length of time is unprecedented.

Bitcoin’s dominance of the market

Bitcoin’s dominance of the market is with 70.21. The lowest dominance ever recorded was 9/37 on January 8, 2018.

Relative Strength Index (RSI)

The daily RSI is current 84.14. Values ​​of 70 or higher indicate that an asset is being overbought and may be prepared for a trend reversal or price correction. An RSI of 30 or less indicates an oversold or undervalued condition.

Google trends

The trend in Google searches over the past 90 days. Google displays this graph on a relative basis with a maximum score of 100 on the day Google searched for that keyword the most. The newest score is 68 – taken from January 5th.

Convince your Nan: Soundbite of the day

“It is [the deficit] why millennials and Gen Z intuitively buy bitcoin because they know they kind of suck The baby boomers have eaten all of their future lunches in a variety of ways by building up these huge deficits. “

  • Mike Novogratz, CEO of Galaxy Investment Partners

What they said yesterday …

Was the opportunity already gone?

It’s weird to think that a bitcoin price drop to $ 20,000 would be the buying opportunity of a lifetime

– Barry Silbert (@BarrySilbert) January 7, 2021

Michael Saylor – CEO, Bitcoin bull and poet

#Bitcoin is a swarm of cyber hornets that serve the Goddess of Wisdom, feed on the fire of truth and grow exponentially smarter, faster and stronger behind a wall of encrypted energy.

– Michael Saylor (@michael_saylor) January 7, 2021

Is Cameron Winklevoss the New Nostradamus?

#Bitcoin is a swarm of cyber hornets that serve the Goddess of Wisdom, feed on the fire of truth and grow exponentially smarter, faster and stronger behind a wall of encrypted energy.

– Michael Saylor (@michael_saylor) January 7, 2021

… Or is Bill Miller?

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Warning notices

It’s definitely tempting to get swept up in the excitement, but please keep these careful words in mind: do your own research, invest only what you can afford, and make good decisions. Hopefully the indicators included in this article will help with that. However, do not forget The content of this article is for informational purposes only and is not intended as investment advice or in any form of recommendation or invitation. City AM, Crypto AM, and Luno always recommend that you seek your own independent financial advice before investing or trading in cryptocurrency.

All information is correct as of 08:30 GMT.

Crypto AM Daily in collaboration with Luno

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