Bitcoin Posts a 66-Day Consecutive Streak Above the $10K Price Range
The Bitcoin network has achieved a few new milestones during the last week, as the price has remained above the $10k range for a record 66 consecutive days. Meanwhile, the network has surpassed 18.5 million bitcoin issued, as the global hashrate coasts along at an all-time high of 140 exahash per second (EH/s).
As of today, October 1, 2020, bitcoin (BTC) has closed above the $10,000 price range for 66 straight days. The last time BTC saw the price stay above $10k consecutively was on December 1, 2017, when the crypto asset posted a record 62-day streak.
Coin market capitalization web portals show there are over 7,000 digital assets in existence and BTC’s overall market valuation represents 57% of the $350 billion aggregate total. Statistics show BTC is down over -8% during the last 30 days, but up +20% for the last 90 days and up +29.7% against the USD in 12 months.
The 66-day streak above $10k has also seen some higher prices as the top digital asset topped $12.5k within the timespan. The streak only counts the day’s closing prices, as BTC had dropped below the $10k region on September 3rd, 4th, 5th, 7th, and 8th to the $9,800 range.
Despite managing to drag the BTC price below $10k, all of these instances saw the crypto asset close the day above the psychological price point.
Meanwhile, BTC touched another milestone this week, as miners have minted over 88% of all the BTC that will ever circulate. Bitcoin’s current money supply or the number of coins in circulation today is 18,504,918 BTC at 9:30 a.m. EST on October 1st. Currently, the BTC issuance rate or inflation rate is around 2.9% after dropping from 3.6% measured at the end of February 2020.
In the midst of the 66-day streak and over 88% of the BTC supply being issued, the Bitcoin network hashrate has been higher than ever. At the time of publication, BTC’s overall SHA256 hashrate is riding above the 140 exahash per second range (EH/s).
Today there are 18 publicly known mining operations hashing away at the BTC chain and the mining pool Btc.com captures over 16% of the network hashrate. This is followed by mining operation F2pool (14.15 %), Poolin (12.44 %), Huobi (10.24 %), Antpool (9.51 %), and Viabtc (6.83 %) respectively.
Today, BTC has been trading between $10,500 to $10,850 with an aggregate market cap of over $190 billion. Bitcoin’s price slid during the mid-afternoon (EST) trading sessions on Thursday by 4%. Bitcoin enthusiasts, traders, and speculators now wonder how long the current $10k streak will last.
What do you think about bitcoin’s 66-day $10k streak? Let us know what you think in the comments section below.
Bitcoin Posts a 66-Day Consecutive Streak Above the $10K Price Range from Bitcoin News.