Bitcoin (BTC) price today trades at $90,623.0 as of 11 PM. BTC price hit a daily high of $92,653.0 today after climbing 1.16% on May 24.
Bitcoin price today is up 2.29% today and currently auctions around $90,623.0 on November 18, 2024. This bullish outlook is due to the recent breakout from the $75k hurdle and the seven-month consolidation, allowing buyers to push BTC higher. The overall trend remains bullish, with a few altcoins shooting higher.
*bitcoin price updated as of 11 PM.
Price of BTC trades at $90,623.0, bringing the year-to-date gain from 56% on October 20 to 108% as of November 18. Although many altcoins have shot up in excess of triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster and stands at 39% and is well below BTC.
Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives like digital gold, inflation hedge, uncorrelated asset, have kept BTC at the forefront of the crypto market since its inception in 2009.
Many industry veterans’ speculation of bull run post-US elections has come true and November is likley going to remain bullish with BTC already hitting a new ATH of $93,265 as of November 13. Bitcoin’s market capitalization, which stands at $1,791.1 billion will likely push toward the $2 trillion mark.
This confidence comes due to the fact that Bitcoin is currently in the fourth quarter, which is the most bullish phase through the year.
Together with Ethereum, the duo constitutes nearly 70% of the total cryptocurrency market capitalization which stands at $2.40 trillion. Out of that, Bitcoin’s market cap stands at $1,791.1 billion, significantly higher than Ethereum’s $314 billion.
Despite the seven-month consolidation, Bitcoin’s $1.82 trillion market cap continues to dominate popular cryptos like Solana (SOL) and Ripple (XRP), whose market capitalization hovers around $115 billion and $65 billion.
With the long-term BTC outlook flipping bullish, BTC’s trading volume sits at $84.1 billion, and most of this is contributed by Binance, one of the largest cryptocurrency exchanges. This platform alone contributes about 11% to the spot trading volume and nearly 41% to the perpetual trading volume. Other exchanges, like OKX, Bitget, etc, follow Binance.
With a market cap of $1.82 trillion, it is necessary for the network to remain secure, decentralized and scalable. This is possible by upgrading the Bitcoin network on a regular basis.
Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.
Here are some key milestone upgrades to the Bitcoin network over the past decade.
2020-2024
Bitcoin Core 0.3.0 Upgrade (October 2009)
The end of the seven-month consolidation can be attributed the favorable conclusion to the US presidential election, leading to Donald Trump’s victory. Following this key event, crypto market is likely to have kickstarted a bull run.
The Bitcoin price is back above the psychological $75,000 level after briefly dipping below it…
Tom Lee's Bitmine has bought more ETH over the last 24 hours, boosting its Ethereum…
Bitget has launched SPCXUSDT. The new IPO Pre-Market Perpetual Contract linked to SpaceX, SPCXUSDT will…
The CLARITY Act’s odds of passing before 2027 plummeted below 50% on prediction market platforms…
The U.S. Securities and Exchange Commission has approved Nasdaq's proposal to launch Bitcoin index options.…
The U.S. Securities and Exchange Commission (SEC) has postponed plans to develop rules for trading…