Home stretch: Bitcoin only a few meters away from its all-time high

25. November 2020

While the Bitcoin betting business is evidence of the hustle and bustle on the digital trading floor, the cops are not giving up the reins and are slowly but surely driving the Bitcoin price towards the all-time high. The market update.

With a 24-hour plus of 3.1 percent, the Bitcoin course seamlessly ties in with the rapid rally of the last few days

In the early hours of the morning it went below the 19,000 US dollar mark. Since then, however, the crypto reserve currency has turned up again and climbed to 19,044 US dollars at the time of going to press. In a 30-day comparison, Bitcoin has increased in value by over 46 percent.

Formally, the Bitcoin price is still a few meters away from its all-time high. Unofficially, however, the digital currency has already reached its milestone. With a market capitalization of currently 350 billion US dollars, the total value of all The News Spy has already exceeded the peak value from the ATH era by 30 billion US dollars. The fact that the BTC exchange rate is still a bit behind the record high is solely due to the increase in supply since then. Almost two million more Bitcoin have been in circulation since then.

Bitcoin futures rush

If the Bitcoin price goes up, the futures business will pick up again. With a high range of fluctuation, there is not only a risk of loss, but also a high chance of profit. The Bitcoin exchange Binance is currently benefiting from this. Open interest, i.e. the potential trading volume of all outstanding futures contracts, cracked a new all-time high on November 24 at over US $ 1.2 billion.

With a 24-hour trading volume of over 11.4 billion US dollars, the Bitcoin exchange clearly sets itself apart from the competition in futures trading. Clearly behind, Huobi ranks second with over 8.6 billion US dollars, and OKEx , the most recently confusing exchange, ranks third with almost 6 billion US dollars.

According to DatamishTraders placed around 23,100 long contracts versus 10,300 short contracts. The majority of investors therefore do not expect the rally to end and bet on a rising Bitcoin price.

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