A roller coaster ride just notched up another level as week 23 brought yet more wild swings in the price of Bitcoin. Cryptocurrency markets have been particularly volatile in recent weeks, and for those looking for the latest developments the Bitcoin Street Journal’s Market Update, Episode 20, has the scoop. Keep reading to stay up-to-date on the very latest BTC news!
1. BTC Surges Through Week 23
BTC Climbs To Record Highs
This week, BTC soared as the cryptocurrency experienced a new high at the $52,000 mark, an increase of 14%. This came as a surprise to many as the industry had expected a minor dip in week 23. The new high was ruled as a significant milestone in crypto history, as the currency now has a market capitalization of over one trillion dollars.
The past week was also a milestone for bitcoin miners, as their combined rewards rose to a new record of $1.15 billion. This is a noteworthy increase from the $807 million rewarded in week 22. The surge of this revenue stream is due to a stronger BTC price and the resultant higher fees paid by customers to miners. Additionally, several countries have taken steps towards the further adoption of the technology, further cementing its future in the global financial industry.
- BTC Reaches New High Of $52K In Week 23
- BTC Market Capitalization Now Above $1 Trillion
- Bitcoin Miners Digital Revenue Reached Record High of $1.15 Billion
2. Market Update Episode 20: Breaking News!
Market Update Episode 20: Energy prices rallied this morning on news of OPEC production cuts. Oil and related energy products saw the strongest gains, with West Texas Intermediate Crude Trading up 0.83% on the news. Natural gas was up 0.26% and coal was trading up 1.25%.
Meanwhile, cryptocurrencies were hit hard by the news. Bitcoin and Ethereum were down 3.5% and 4.7% respectively, while a lesser-known altcoin, APO, was down 11.3%. Gold and silver, however, both saw an uptick in prices, indicating that investors may be hedging against price swings.
- West Texas Intermediate Crude Trading up 0.83%
- Natural Gas up 0.26%
- Coal up 1.25%
- Cryptocurrencies Down
- Gold and Silver Up
Episode 20 of the Bitcoin Street Journal’s Market Update has brought us up to date on the wild ride of the week. Further updates will be provided in the weeks ahead so keep on top of the latest developments in Bitcoin. Until then, keep your eyes peeled for those BTCs!