Bitcoin Price On CMC
According to Grayscale's C.E.O, Michael Sonnenshein, Institutional investors are also looking out for other cryptocurrencies asides Bitcoin to invest in. He also mentioned that the investors are doing this so as not to only choose the winner (Bitcoin) over the loosers. The C.E.O stated that the company had made $700 million in a single day.
Crypto prices are experiencing what can be best described as a state of consolidation lately even though a few cryptocurrencies experienced gain last week. The Crypto-market cap is currently valued above $1 Trillion today from around $960 billion yesterday with Bitcoin market cap having dominance of 66.2%. This is as a result of the ongoing Bitcoin surge. As at the time of writing this article, BTC price is $36,664.85 on Coinmarketcap and the coin is up 1.25% in 24hrs. Below is a chart showing the BTC/USD trading pair market price.
A 5-Day BTC/USD Bitstamp Price chart on Trading view
Also, News has it that a man from Newport named James Howells threw away a hard-drive with 7500 Bitcoin mined for four years believing that he had backed-up all the data in the drive. The man has since asked for permission from the City council to dig up the drive from the dump. He was told by a City council representative that without licencing permit, excavation cannot be possible especially when recovery of the said drive is not guaranteed and the excavation could cause environmental pollution harmful to human health. The man had later promised that he will be giving out 25% ($70 million) of the Bitcoin to the council to share among citizens if he is able to find the drive. The total worth of the BTC is $275 million.
Bitcoin options valued at a record of $3.7 billion are set to expire this month end. The options market has expanded immensely due to the recent bullish moves in BTC price. Bitcoin options are the contacts that provides investors with the right to either sell or buy crypto at a specific price within a designated period of time.
After reaching an All-time high point of almost $42,000 on 8th January last week and later dropping again below $38k, Investors are tending to be even more Bullish. Soonest, we are likely to see Bitcoin making waves and also paving way for Eth and altcoins to do same.
Disclaimer: This is not a financial advice.