Bitcoin’s explosive gains are strongly reflected by the number of days it has closed above $16,320.
The Bitcoin (BTC) price, which is currently sitting at $16,320, has only been at this level or higher for 12 days in the coin’s entire 4,332-day history, representing just 0.28% of the cryptocurrency’s life.
Crypto analytics platform Messari published data stating that the closing price had exceeded $16,320 only on 12 other days, 10 of which occurred between Dec. 7 to Dec. 20, 2017, with the highest close occurring on Dec. 16 at $19,378. Any investor who bought at the all-time high of $20,089 would still be down 18.35%. In contrast, investors who bought at this cycle’s low of $3,126 on Dec. 15, 2018, would be up 424%.
Of the other top 10 coins, only Chainlink (LINK) comes remotely close to Bitcoin with the coin sitting above the current price of $12.70 for 2.7% of its life.
By contrast, the majority of altcoins are yet to enter proportionally rare price ranges. Ether’s (ETH) current price of $464 has been exceeded 201 days in the past, representing more than 10% of the entire 1,933 days since the Ethereum network went live.
XRP, Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB), Polkadot (DOT) and Cardano’s (ADA) prices all vary between 9.7% and above 30%. BCH exceeds all other coins sitting above the current price of $258 for at least one-third of its life.
Bitcoin’s strong rise past $16,000 has also seen record volumes recently. With more than $5.5 billion in Bitcoin trading volume recorded on Nov. 5, only nine days have seen stronger volume in Bitcoin’s history.
Compared to this day in previous years, investors have seen profits of 88%, 2,275%, 4,326% and a staggering 5,833,991% for the years of 2019, 2016, 2013 and 2010, respectively.
In other words, investing $1 into Bitcoin on November 13, 2010, would have increased to $58,339 today.
Leave a Reply