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Bitcoin has updated its historical record with the price of falling stock exchanges

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Bitcoin has updated its historical record with the price of falling stock exchanges

Bitcoin has updated its historical record with the price of falling stock exchanges
CONTENT

  • Bitcoin has set a new high since 2017

  • Capitalization of the asset bypassed the capitalization of JPMorgan Chase

  • Exchanges again failed to cope with pressure amid volatility

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The largest cryptocurrency by capitalization has renewed its all-time high, breaking the $ 22,000 mark.

Bitcoin has updated its historical record with the price of falling stock exchanges

Bitcoin has successfully renewed its all-time high reached exactly three years ago. Then the leading cryptocurrency set a record at around $ 20,093 on the BitMEX cryptocurrency exchange.

Now, bitcoin has not only reached the aforementioned mark, but has also advanced further, gaining a foothold at $ 24,300. For the first time in history, the market capitalization of just one cryptocurrency has stepped over the $ 400 billion mark..

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To understand how much this is, just look at the market capitalization of JPMorgan Chase, an American bank that is part of the “Big Four” US banks. At the time of this writing, it is $ 367.8 billion.

Bitcoin alone is more than 65% of the market capitalization of all other virtual currencies.

Source: coin360.com

Bitcoin has updated its historical record with the price of falling stock exchanges

Along with bitcoin, almost all digital assets from the top 10 in terms of capitalization have also increased in price, according to data from the Coin360 resource. The total capitalization of the cryptocurrency market grew to $ 636.3 billion.

For the sake of volatility

Traditionally, whenever Bitcoin experiences a surge in volatility, cryptocurrency exchanges become inaccessible to most users. So, against the background of a sharp rise in the price of BTC, the American cryptocurrency exchange Coinbase went offline again.

Source: twitter.com

The platform has technical problems with enviable regularity. Coinbase last fell in September as Bitcoin approached key resistance at $ 12,000.

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However, Coinbase wasn’t the only one unable to cope with the pressure from user demand for BTC. Binance crypto exchange also experienced disruptions on December 16 (at 17:00 Moscow time).

Recall that the growth of cryptocurrency was preceded by the news that JPMorgan expected another $ 600 billion in cryptocurrency investments after the largest US insurance company invested $ 100 million in BTC. The price of bitcoin in the BTC / USDT pair at the time of writing is $ 22,380.

Read about how the chronology of previous cryptocurrency rallies looks like in a special material from BeInCrypto.

Bitcoin has updated its historical record with the price of falling stock exchanges

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