Bitcoin has suffered two flash crashes over the last 24 hours and is currently trading below the $60,000 mark, having reached close to $64,000 at the start of the week.
Ethereum, Solana, and Cardano also slipped overnight by between 5-15 per cent amid a market-wide slide that was notably bucked by the meme coins Shiba Inu and Baby Floki Billionaire.
The dogecoin spin-offs are up by 42 per cent and 69 per cent respectively on Wednesday morning, according to CoinMarketCap’s price index, with the former spurred on by calls for it to be listed on the popular trading app Robinhood.
The gains were not enough to prevent the overall crypto market from dropping below $2.5 trillion.
Even though BTC has slipped over the last 24 hours, some analysts continue to predict new all-time highs before the end of 2021.
We’ll have all the latest news, analysis and expert price predictions in our live coverage of the crypto market below.
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Analyst predicts ‘parabolic’ price rally
Shiba Inu coin overtakes dogecoin
20:48 , Anthony Cuthbertson
Shiba Inu coin has overtaken dogecoin, surpassing the original meme coin’s $31 billion market cap.
Shiba Inu now ranks as the ninth most valuable cryptocurrency in the world, according to CoinMarketCap’s price index.
While other leading cryptocurrencies continue to flounder, SHIB is now up more than 60 per cent over the last 24 hours, and 180 per cent over the last week. When zooming out on the market even further, Shiba Inu’s price rise is even more astonishing, increasing by more than 700,000 per cent since January.
Shiba Inu coin bucks crypto crash with record-breaking price rally
16:19 , Anthony Cuthbertson
The price of Shiba Inu has just hit a new all-time high, despite today’s crypto market crash.
The meme coin’s market cap is now $25 billion – just $6 billion away from dogecoin’s – making it the world’s 11th most valuable cryptocurrency.
Today’s gains build on a price rally that has seen it rise more than 700 per cent since the start of October, and 700,000 per cent since January.
You can read the full story about the latest crypto meme sensation right here.
Is Coinbase down?
15:47 , Anthony Cuthbertson
Some Coinbase users are reporting issues with the trading app, though it still appears to be functioning, albeit sluggishly.
This is often the case when there are sudden market movements, with previous bitcoin crashes this year causing major crypto exchanges like Coinbase and Binance to temporarily become inaccessible to customers.
Website health monitor DownDetector is currently seeing a spike in reports of Coinbase being down, though it mostly just appears to be issues of speed rather than an actual outage. Some customers are complaining that they’re unable to buy Shiba Inu coin, which is bucking market trends right now with a record-breaking price surge.
Bitcoin in banks?
14:08 , Anthony Cuthbertson
In what would be a major development for the crypto space, regulators in the US are reportedly developing guidelines for banks to hold bitcoin and other cryptocurrencies.
The chair of the Federal Deposit Insurance Corporation (FDIC) told Reuters that it was important to bring this activity inside the banks, otherwise “it is going to develop outside the banks” and “the federal regulators won’t be able to regulate it”.
The move could launch a new wave of BTC and crypto adoption and make holding cryptocurrencies much more secure for the average user.
You can read the full story here.
Bitcoin price crash sees ‘more buyers than sellers’
12:53 , Anthony Cuthbertson
Following bitcoin’s flash crash, which took most of the crypto market down with it, we’ve heard from some crypto experts to get their thoughts on what caused it, and what comes next.
Freddie Evans, a sales trader at the UK based digital asset broker GlobalBlock, says that there are “more buyers than sellers in this morning’s session so far”, confirming the “buy the dip” mentality that has been prevalent across social media this morning.
Here’s what he told The Independent:
The markets have taken a tumble this morning after bitcoin broke the $60,000 support. Investors have been on edge expecting a correction as the markets have looked over leveraged.
The drop has been predicted by many analysts and provides an opportunity to those looking to buy the dip, meaning it could be that this retracement is short lived and we head back above $60,000 before too long. Almost all coins are down over the last 24 hours, but we’ve seen more buyers than sellers in this morning’s session so far.
Freddie Evans, GlobalBlock
Defiant bitcoin investors ‘buy the dip’
10:53 , Anthony Cuthbertson
Bitcoin investors, traders and analysts are reacting to the latest crash on social media, with a large portion defiantly describing it as a “flash sale”.
One writes: “Buy the dip, thank me later”.
Meanwhile, pseudonymous Dutch analyst PlanB, whose widely-vaunted bitcoin price prediction model puts the cryptocurrency on track for six figures this year, remains firmly undeterred by the dip.
Small and stoploss traders selling their holdings will ultimately be the big losers, he claims, while “big market players” will scoop up the discounted bitcoin and hold it to new highs.
Bitcoin price crash in context
10:14 , Anthony Cuthbertson
Bitcoin’s flash crash looks severe when viewing hourly charts, but it’s nothing new for a cryptocurrency accustomed to massive price swings.
Two similar dips in terms of scale and timeframe were also seen last month, which were followed just a few weeks later by a new all-time high. Some analysts point to such downturns as a signal that the market has turned bearish, while bullish analysts typically describe them simply as price corrections that allow BTC to consolidate gains in preparation for another leg up.
Here’s how the latest flash crash looks when zooming out on bitcoin’s price movements over the last 12 months.
BREAKING: Bitcoin price crash causes mini collapse for market
09:31 , Anthony Cuthbertson
Bitcoin is still falling, crashing below $59,000 and taking its total losses to more than $5,000.
It’s had a massive impact on the overall market, with several leading cryptocurrencies now down by more than 15 per cent – you can read more here.
Bitcoin price tumbles below $60,000
09:05 , Anthony Cuthbertson
The price of bitcoin has dropped below $60,000 following two minor flash crashes on Wednesday morning.
It is now down by roughly $4,000 since this time yesterday, with blockchain data suggesting that the price dip is a result of long-term BTC holders taking some profit’s after the recent all-time high.
Bitcoin briefly dipped below $60,000 last week but immediately rebounded, so the next few hours will prove key in determining whether or not it has found solid resistance at this level.
04:12 , Vishwam Sankaran
Bitcoin has slipped in value by over 3 per cent in the last 24 hours and is currently valued at close to $60,500.
Ethereum, cardano, and solana have also dropped in price by about 1 to 3 per cent compared to their values a day earlier.
Among meme coins, while dogecoin has slipped by about 3 per cent, shiba inu coin has surged by more than 16 per cent in the last 24 hours.
The global crypto market has dropped in value by about 2 per cent in the last day and is currently valued at about $2.57 trillion.
Bitcoin price prediction model still on track?
Tuesday 26 October 2021 17:59 , Anthony Cuthbertson
Bitcoin’s refusal to shift very far from the $63,000 mark as October comes to a close fits with a forecast made back in June.
The pseudonymous crypto analyst PlanB, who has gained more than a million Twitter followers over the last year as a result of his highly-regarded Stock-to-Flow model, made a prediction four months ago about what bitcoin’s price would be for each remaining month of 2021.
He predicted BTC’s closing price for both August ($47,000) and September ($43,000) to within a fraction of a per cent, and puts October’s price at $63,000. The final couple of months will prove the most eventful, according to his prediction, reaching six figures by Christmas.
You can read more about PlanB’s price prediction model here.
Bitcoin expert says ‘this week will be key’ for crypto market
Tuesday 26 October 2021 17:16 , Anthony Cuthbertson
With bitcoin continuing to hover around the $60,000-$64,000 region, one crypto industry figure has described the next week as being “key” to determining the direction of the market over the next few months.
Tim Frost, CEO of decentralised finance platform Yield App, tells The Independent that market momentum could shift in Ethereum’s favour over the coming days if BTC fails to build further on its October gains.
“Ethereum is perhaps at that mythical moment of ‘the flippening’ where it moves higher than bitcoin in terms of price momentum,” he says.
“This week will be key to see if that in fact transpires, as it will be to see whether or not bitcoin will push through its previous all-time high for anything more than two minutes. The bulls are still gunning for a three-figure end to the year, although somewhere between the range of $70-$90,000 is likely more realistic, with three figures potentially transpiring towards the end of Q1.”
China reconsidering bitcoin ban?
Tuesday 26 October 2021 11:25 , Anthony Cuthbertson
One of the driving forces behind bitcoin’s spectacular price crash between April and July was China’s crackdown on crypto mining.
Now reports suggest China could be reconsidering its ban, which cryptocurrency experts say could supercharge BTC’s price rally. One industry figure tells The Independent that it would “almost certainly act as a significant catalyst for bitcoin’s price and the crypto market as a whole”.
The collapse of China’s bitcoin mining share, as this graph shows, mirrored the price drop of the cryptocurrency in mid 2021, as miners were forced to shut down operations.
So how likely is a reversal of this policy, and could China introduce more favourable regulation for bitcoin trading? You can read the full story here.
Mastercard embraces bitcoin and crypto with new partnership
Tuesday 26 October 2021 10:22 , Anthony Cuthbertson
Mastercard has partnered with digital assets firm Bakkt to allow any bank or merchant on its network to embed bitcoin and other cryptocurrencies into their products.
The payments giant has previously described cryptocurrencies as an “important part of the payments world”, with previous announcements about incorporating them into its network often preceding a market rally.
The partnership with Bakkt will allow banks, fintechs or merchants to introduce the option for customers to buy, see and hold cryptocurrency, as well as earn reward in crypto.
Bitcoin price steadies as crypto market continues to consolidate
Tuesday 26 October 2021 09:53 , Anthony Cuthbertson
The price of bitcoin continues to hover around $63,000 this morning, moving by less than a tenth of a per cent since this time yesterday.
The overall crypto market appears to be in a period of consolidation after nearly a month of steady gains.
Since the start of October, the total cryptocurrency market cap has risen by more than $700 billion to $2.63 trillion to hit new all-time highs.
Most other leading cryptocurrencies remain relatively steady, with Ethereum (ether), Binance Coin, Cardano (ada), Ripple (XRP), Polkadot and dogecoin all moving by between 0-2 per cent since yesterday.
Tuesday 26 October 2021 04:16 , Vishwam Sankaran
The prices of several cryptocurrencies, including Bitcoin, Ethereum, and Solana have grown in the last 24 hours.
Bitcoin has risen in value by over a per cent in the last day while Ethereum (ETH) and Cardano (ADA) have grown by about 2.5 per cent compared to their values 24 hours earlier.
The global crypto market has grown by more than 2 per cent in the last day and is currently valued at close to $2.63 trillion.
BREAKING: Solana price hits new all-time high
Monday 25 October 2021 17:39 , Anthony Cuthbertson
Amid a resurgent crypto market, Solana (SOL) has just hit a new all-time price high.
The cryptocurrency reached above $2.18 on Monday afternoon, according to CoinMarketCap’s price index, pushing its market cap above $65 billion. Its total gains for 2021 now top 12,000 per cent.
Solana’s founders claim its real competition is financial markets, rather than just other cryptocurrencies.
“Literally the goal of Solana is to carry transactions as fast as news travels around the world – so speed of light through fibre. Who we’re competing with is Nasdaq and the New York Stock Exchange,” Solana Labs CEO Anatoly Yakovenko said last month.
You can read all about Solana and its astonishing rise right here.
Bitcoin price prediction model hints at ‘months of record gains’
Monday 25 October 2021 13:50 , Anthony Cuthbertson
Pseudonymous Dutch analyst PlanB has shared the latest update to his much-vaunted Stock-to-Flow price prediction model for bitcoin.
The latest all-time high means the chart has returned to the red zone, which can typically mean months of new record highs.
“When bitcoin is in all-time high mode (colour turns red), it usually stays in ATH mode (red) for a couple of months,” he previously tweeted.
According to PlanB’s analysis, bitcoin is on track to hit six figures before Christmas and could eventually command a market cap of $100 trillion.
Dogecoin price responds to Musk comments
Monday 25 October 2021 12:15 , Anthony Cuthbertson
Dogecoin has shot up more than 15 per cent following Musk’s comments about his crypto holdings, which he followed up with a succession of tweets specifically about the meme-inspired crypto.
He described it as “the people’s crypto”, revealing that “lots of people” on the production lines at Tesla and SpaceX own Doge. He also offered advice on how to improve dogecoin and make it more suitable for use as a mainstream form of payment.
“What matters imo is lowering fees, decreasing block time and increasing block size,” he said. “A single layer network with exchanges as de facto layer 2 seems like the simplest solution for a medium of exchange.”
Musk’s exact dogecoin holdings are unknown, though he previously said his crypto stash was the only thing of “significant value” that he owns, beyond SpaceX and Tesla stock. He is currently the wealthiest person on the planet, with a net worth in excess of $250 billion. Jeff Bezos, his closest rival, is worth less than $200bn, according to the Bloomberg Billionaires Index.
You can read the full story about how Elon Musk became fascinated with dogecoin right here.
Elon Musk confirms bitcoin, Ethereum and dogecoin holdings
Monday 25 October 2021 11:39 , Anthony Cuthbertson
Elon Musk has confirmed his personal crypto portfolio includes bitcoin, Ethereum (ether) and dogecoin – but no Shiba Inu or Floki Inu.
“Out of curiosity, I acquired some ascii hash strings called ‘Bitcoin, Ethereum and Doge’. That’s it,” he tweeted. “As I’ve said before, don’t bet the farm on crypto! True value is building products and providing services to your fellow human beings, not money in any form.”
As the CEO of Tesla, Musk became the most high-profile executive to invest company cash reserves into BTC earlier this year, buying $1.5 billion worth of the cryptocurrency. The electric car maker has benefitted massively from the price rally, with its investment nearly doubling over the last few months.
Monday 25 October 2021 04:38 , Vishwam Sankaran
The global crypto market has almost remained unmoved in the last 24 hours, currently valued at about $2.58 trillion. Bitcoin has risen in value by about 1 per cent over the last day while Ethereum remains unmoved.
Other cryptocurrencies, including Dogecoin and Solana have also grown compared to their prices a day earlier while Cardano has marginally slipped in value during this period.
Markets trading up, in contrast to crypto
Friday 22 October 2021 13:17 , Andrew Griffin
As crypto trades down, stocks are up. Here’s the latest from AP:
Shares were mostly higher in Europe on Friday after a mixed session in Asia.
Benchmarks rose in Paris, London, Tokyo and Hong Kong. Shares fell in Shanghai and Seoul.
An official newspaper, the Securities Times, and other state media said China Evergrande Group made an overdue bond payment on Friday.
Evergrande wired $83.5 million to account for a bond payment that was due Sept. 23, the reports said. The company’s Hong Kong-traded shares gained 4.3%.
The property developer’s struggle to reduce its 2 trillion yuan ($310 billion) of debt to comply with tighter official curbs on borrowing has prompted fears a default might trigger a financial crisis.
The news of the payment followed Evergrande’s announcement a day earlier that it was running into difficulties selling assets to alleviate its liquidity crisis and that a plan to sell its property services arm had fallen through.
Germany’s DAX gained 0.4% to 15,535.16. In Paris, the CAC 40 jumped 1.1% to 6,759.46, while Britain’s FTSE 100 added 0.4% to 7,220.57. The future for the S&P 500 was nearly unchanged while the future for the Dow industrials gained less than 0.1%.
On Thursday, the S&P 500 rose 0.3% to 4,549.78, its seventh straight gain. That eclipsed the record high it set on Sept. 2. It is on pace for its third straight weekly gain.
The Dow slipped less than 0.1%, to 35,603.08. It is just below its all-time high set on Aug. 16. The Nasdaq gained 0.6% to 15,215.70, while the Russell 2000 rose 0.3%, to 2,296.18.
Market turns red
Friday 22 October 2021 13:14 , Andrew Griffin
It’s a red day in the cryptocurrency market – rare over the last few weeks. Bitcoin is down 1.9 per cent, and the other coins that had benefited from bitcoin’s rally such as Cardano and Ethereum are down too.
Solana is the standout. It’s up more than 10 per cent today, taking up almost 30 per cent this week.
But overall it’s negative. The market is down 4.4 per cent over the last day, according to CoinMarketCap, and the amount being traded has dropped by almost 17 per cent.
Crypto experts predict where bitcoin goes from here
Friday 22 October 2021 06:18 , Anthony Cuthbertson
After the astonishing price gains bitcoin has seen over the last few weeks, the question is whether it can maintain this momentum.
We’ve reached out to several cryptocurrency experts to hear their thoughts on where the market goes from here, with some speculating that the latest all-time high could be eclipsed before the end of the year. Comparisons were even drawn to the first gold ETF in 2004, when the market cap of the precious metal was roughly the same as bitcoin’s today. It has since risen 11-fold.
You can read the full story here.
Bitcoin price dips amid warning of over-leveraged traders
Thursday 21 October 2021 16:33 , Anthony Cuthbertson
The price of bitcoin has slid to below $63,000, having peaked earlier today at close to $67,000.
The flash crash comes amid warnings that the market was overbought during the launch of the first ever bitcoin futures exchange-traded fund earlier this week.
Crypto analyst and author Glen Goodman said that there could be a short-term dip due to over-leveraged traders buying bitcoin with funds borrowed at high interest rates.
PayPal co-founder Peter Thiel laments ‘underinvesting’ in bitcoin
Thursday 21 October 2021 15:36 , Anthony Cuthbertson
PayPal co-founder Peter Thiel has revealed that he regrets not investing more money in bitcoin following its latest price record.
The billionaire venture capitalist, who was one of the earliest investors in Facebook, told Bloomberg that he should follow fellow PayPal founder Elon Musk’s lead by buying a significant amount of the cryptocurrency and holding it for the long term.
“You’re supposed to just buy bitcoin,” he said. “I feel like I’ve been underinvested in it… I think the answers are still to go long.”
He also warned that bitcoin’s latest rally is a major concern for the traditional financial system, saying that BTC’s gains “surely tells us that we are at a complete bankruptcy moment for the central banks”.
Bitcoin now world’s 13th largest currency
Thursday 21 October 2021 13:46 , Anthony Cuthbertson
Bitcoin’s record-breaking price rally has pushed its market cap ahead of the Swiss Franc, making it the world’s 13th most valuable currency.
Data from CoinMarketCap also ranks Ethereum (ether) in the top 25 fiat currencies, just below the Swedish Krona.
With a market cap in excess of $1.2 trillion, bitcoin is also worth more than some of the world’s most valuable companies, including Facebook and Tesla. The overall crypto market is now worth more than Apple – the world’s most valuable company – at more than $2.5 trillion.
Read the full story here.
Crypto market smashes record high
Thursday 21 October 2021 10:41 , Anthony Cuthbertson
It’s been a massive 24 hours for the cryptocurrency market, with several other leading altcoins looking to follow bitcoin’s all-time high with a record-breaking price run of their own.
Ethereum is now less than $100 from its ATH, while Solana is also fast approaching its own with gains of more than 20 per cent since this time yesterday.
All of the action has pushed the overall crypto market above its previous record, breaking above $2.6 trillion for the first time in its history this morning.
Jack Dorsey: 🌕
Wednesday 20 October 2021 16:53 , Adam Smith
Twitter CEO Jack Dorsey, a long-time advocate of crypto, tweeted a moon emoji when bitcoin hit its peak.
The emoji likely references the phrase ‘to the moon’, signifying a rapidly high rise.
Elon Musk made a similar reference in June 2021, causing an adult-themed cryptocurrency to increase nearly 400 per cent in ten minutes.
Should bitcoin EFTs even exist?
Wednesday 20 October 2021 16:01 , Adam Smith
While the first bitcoin futures exchange trade has excited many, it has its critics, including the Financial Times’ Robert Armstrong.
Armstrong says that many investors want the cryptocurrency process to operate like a standard financial product. Quoting an unnamed executive in the bitcoin fund industry, he argues that the “heart of the matter” is that investors’ pools of capital are in a 401k or brokerage accounts, and the ways to access bitcoin is outside of that system.
“Lots of investors want access and don’t want to do research into the myriad custodial options”, the executive says.
But Armstrong says that bitcoin is not a standard financial product; it is supported by complex technology and its source of value is a “vehicle for the purest speculation”, he writes.
“If you can’t be bothered to learn the unique subtleties involved in owning this stuff, you can’t possibly understand the risks, and so you should not own it at all. Bitcoin ETFs should not exist.”
Bitcoin reaches all-time high
Wednesday 20 October 2021 15:20 , Andrew Griffin
After a remarkable October, bitcoin has reached an all-time high. It’s smashed through its $64,000 previous record, and continued to trade up.
ProShares rings NYSE bell on first bitcoin futures ETF
Tuesday 19 October 2021 18:05 , Anthony Cuthbertson
ProShares rings the bell on the first ever bitcoin futures exchange-traded fund in the US, which has now officially launched on the New York Stock Exchange.
The price of bitcoin appears to have received a big boost already, rising by more than $1,000 to reach a new six-month high of $63,400 on CoinMarketCap’s price index just a couple of minutes ago.
This is tantalisingly close to its all-time high from mid April, which is now just over $1,000 away from being hit.
Bitcoin price hits fresh six-month high
Tuesday 19 October 2021 11:01 , Anthony Cuthbertson
Bitcoin has hit a fresh six-month price high, reaching $62,944 on Tuesday morning, according to CoinMarketCap’s price index.
It has dipped slightly in the last few minutes but anticipation of the bitcoin futures ETF remains high and some analysts are expecting more gains.
Other crypto market experts are warning that the milestone could be a case of the old trading adage “buy the rumour, sell the news”.
This was the case when El Salvador introduced bitcoin as a legal form of tender in September, though it subsequently rebounded far stronger than the dip.
Bitcoin futures ETF launches today
Tuesday 19 October 2021 07:36 , Anthony Cuthbertson
Today is the day that the long-awaited, first-of-its-kind bitcoin futures exchange-traded fund (ETF) launches on the New York Stock Exchange.
It’s a massive milestone for the crypto industry and will open up BTC to a whole new realm of investors, while also paving the way for more cryptocurrency ETFs in the future. There could even be a further three this month.
We’ve heard from Paolo Ardoino, CTO of cryptocurrency exchange Bitfinex, who describes the launch as a “turning point” for bitcoin.
“As the digital token space evolves, we are seeing increased interest in the concept of a bitcoin ETF, as evidenced by some high-profile global launches. This has not only marked a turning point for the onboarding of institutional investors but is also a clear sign of bitcoin‘s maturity,” he says.
“Bitcoin ETFs may be a significant stimulant for the future of digital token uptake, bringing more investors as well as inspiring the sharing of knowledge within the space. Institutional investors are already driving volumes on exchanges and many expect adoption to skyrocket now that exposure and access to bitcoin will be so readily available.”
Bitcoin price hits all-time – in Japan
Tuesday 19 October 2021 07:22 , Anthony Cuthbertson
The price of bitcoin has hit a record all-time high on Tuesday, though not officially.
The cryptocurrency achieved the feat on an exchange in Japan, where demand appears to be soaring ahead of the launch of the bitcoin futures ETF later today in the US. Investment podcaster Preston Pysh registered bitcoin above $70,000 on one Japanese exchange, but going by CoinMarketCap’s more representative price index, BTC is still just under $2,000 away from hitting a new all-time high this morning.
Bitcoin price up more than 100% since July
Monday 18 October 2021 17:23 , Anthony Cuthbertson
Bitcoin’s remarkable gains this month mean it has now more than doubled in price since the April-July crash took it below $30,000.
After cresting and dipping in September, bitcoin has followed the form of previous years by shooting up in price in October. Historically, November has been its strongest month, with average gains of 53 per cent since 2011, while December also typically sees a significant price increase for the cryptocurrency. Many investors will be hoping it will do the same again this year to cap off a record-breaking 2021.
Crypto experts predict new record bitcoin price this week
Monday 18 October 2021 17:07 , Anthony Cuthbertson
With bitcoin still teasing its all-time high, we’ve reached out to two crypto experts to hear their thoughts on whether we’ll see a new record price high in the coming days.
“A lot of good news has already been price in, although with bitcoin’s all-time high just $2,000 away a fresh attempt to break this is very likely to happen in the short term,” says Nicholas Cawley, an analyst at foreign exchange firm DailyFX, who believes there could be “repeated fresh bitcoin highs” over the next couple of months.
You can read the full story here.
When will bitcoin price peak?
Monday 18 October 2021 13:22 , Anthony Cuthbertson
For many bitcoin advocates, breaking the price record in 2021 is a question of if, not when. For them, the real questions are how high will it go and when will it crash?
By one analyst’s estimations, the peak of this current market cycle will be hit at some point in mid December, as this is 150 days from the mid-cycle low seen in July – presuming the all-time high is breached.
By TechDev’s calculations, bitcoin will reach $70,000 at some point next week, before hitting $90,000 in November. There will then be a slight dip back to the $60,000 range, he claims, before a “parabolic run up” to a peak of $250,000.
How bitcoin and crypto market caps stack up
Monday 18 October 2021 12:25 , Anthony Cuthbertson
With the cryptocurrency market now above $2.5 trillion, it is now worth more than all of the world’s most valuable companies.
Bitcoin alone ranks ahead of Facebook and Tesla, with only Amazon, Alphabet (Google), Saudi Aramco, Microsoft and Apple beating its market cap. Its recent price surge means its market cap is now just $20 billion away from its all-time high.
Excluding precious metals – gold and silver have a market cap of $11.19 trillion and $1.3 trillion respectively – here’s how the top assets stack up.
Bitcoin price and crypto market tease all-time high
Monday 18 October 2021 09:41 , Anthony Cuthbertson
Bitcoin has hit a new six-month high, hitting $62,614 on Monday morning according to CoinMarketCap’s price index, leaving it less than $2,000 away from its all-time high.
It has helped push the overall crypto market cap above $2.5 trillion, which is now also teasing its own record high.
The cryptocurrency space is no longer dominated by bitcoin in the same way it was when the last peak was seen back in April.
Today, BTC only represents just over 40 per cent of the total crypto market capitalisation thanks to massive gains seen by Ethereum (ether), Cardano (ada) and other leading altcoins. This means we’ll likely see the crypto market hit a new high before bitcoin does.
Hello and welcome…
Monday 18 October 2021 09:19 , Anthony Cuthbertson
to The Independent’s live coverage of the crypto market. Bitcoin appears to be closing in on a new all-time high on Monday after experiencing a huge price surge in the first half of October 2021.
The world’s leading cryptocurrency is up more than 40 per cent over the last two weeks, with other top cryptocurrencies like Ethereum (ether) and Cardano (ada) also seeing major gains.
We’ll have all the latest news, market analysis and expert price predictions throughout the day right here.
This news is republished from another source. You can check the original article here.