Bitcoin Price Leaps Over $38,600- Analyst Says BTC’s Parabolic Move ‘Highly Abnormal’

Digital currency markets continue to see strong gains, as the overall market valuation of the crypto economy has jumped $32 billion over the $1 trillion market cap after hitting the record number for the first time. Moreover, the price of bitcoin touched yet another all-time high on Thursday morning (EST) reaching $38,610 per coin.

  • Bitcoin, the leading digital asset in terms of market valuation, is hovering above the $38k handle after smashing through its ATH the day prior. Bitcoin (BTC) jumped to another ATH on Thursday touching approximately $38,610 per unit during the morning trading sessions.
  • Bitcoin is up over 10% during the last 24 hours, 31% during the last seven days, 107% for the month, and 243% for the 90-day span. BTC is also up more than 370% against the U.S. dollar for the last 12 months.
Bitcoin Price Leaps Over $38,600, Analyst Says BTC's Parabolic Move 'Highly Abnormal'
Bitcoin (BTC) tapped an ATH of $38,610 on Thursday morning’s trading sessions (EST).
  • The crypto asset’s top trading pair today is tether (USDT), which captures 52.19% of all BTC trades today. This is followed by the trading pairs USD (18.58%), JPY (7.14%), EUR (5.59%), BUSD (4.20%), KRW (3.58%), and USDC (1.53%).
  • Bitcoin’s hashrate is still very high at 155 exahash per second (EH/s) on Thursday as 18 mining pools are mining BTC today. The top five mining pools on January 7, 2020, includes F2pool, Binance Pool, Huobi Pool, Antpool, and Poolin.
  • The second-leading crypto asset, ethereum (ETH) is up 7.4% today and 65% for the last week. ETH is trading for $1,231 per unit and has a market cap of around $140 billion.
  • After suffering for a couple of weeks on end, the third-largest blockchain in terms of market cap, XRP has jumped considerably on Thursday morning (EST). XRP has gained 60% during the last 24 hours of trading and is now swapping for $0.33 per token.
  • While BTC has jumped to new highs, some analysts think the crypto asset’s value may be running hot. The CEO of Cryptoquant Ki-Young Ju tweeted about the funding rate heat…

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