Bitcoin (BTC), the largest crypto currency, has set a new record with its performance in the last three months. Bitcoin price remained above $ 10,000 for 100 days with the support of the bulls. The BTC price has never been able to hold above the $ 10,000 mark for so long.
The price of Bitcoin (BTC), which fell to $ 3,700 in March 2020, started to rise with the commodity and stock markets after that date. With the beginning of the summer months, Bitcoin, which has become more valuable, has exceeded the $ 10 thousand threshold, which is thought to be a psychological barrier by the end of June. And since then it has managed to stay above this dam.
100-day record was broken
Although the Bitcoin price tested $ 10,000 at the beginning of June, it failed to hold above this level. But BTC, which went above this point by the end of the month, has remained above $ 10,000 since June 27.
Looking at the current charts, it can be seen that the BTC / USD parity has remained above $ 10 thousand for 100 days. This shows that Bitcoin not only broke a new record, but also broke the record in the bull run in 2017.
The bitcoin price rose above $ 10,000 at the beginning of December 2017 and continued this rise, reaching almost $ 20,000. The price remained above 10 thousand dollars until the end of January 2018. However, Bitcoin fell below this level after being traded at over $ 10,000 for 62 days.
The bitcoin price rose to over $ 10 thousand on July 31, 2017, but managed to stay above this level for only 28 days.
General situation in the market
According to CoinGecko data, Bitcoin, which saw $ 14,000 today and thus broke the price record for the last 16 months, is currently trading at $ 13,700. This sudden surge in bitcoin price is thought to be caused by the presidential election in the USA.
Meanwhile, Bitcoin’s market dominance rose from 61 percent to 63 percent and is currently at 63.3 percent. The total value of the crypto money market is $ 400 billion, more than $ 250 billion of it is Bitcoin; the rest is from altcoins.