Bitcoin Price Taps $41,970, Morgan Creek Partner Says ‘BTC Is a 10x Improvement on Gold’

Bitcoin’s price continues to move northbound, as the crypto asset’s value has touched another all-time high (ATH) this week reaching $41,970 per coin on Friday morning (EST). The digital asset bitcoin is now the 7th most valuable asset worldwide with an overall market valuation of around $778 billion today.

Cryptocurrencies across the world have seen enormous gains during the last week and this week bitcoin (BTC) has touched multiple all-time highs. BTC has touched another ATH on Friday morning (EST) reaching a whopping $41,970 per coin at 10:00 a.m (EST). At the time of writing, bitcoin is swapping for $41,900 per unit after dropping a hair lower. The crypto asset saw a massive drop yesterday after quickly touching the $40k handle dropping well over 10% to the $36,388 range at 1:48 p.m. on Thursday afternoon.

BTC/USD prices at 10:00 a.m. EST touched $41,970 per unit.

Bitcoin’s market cap today is hovering above the $778 billion range and has $34 billion in global trade volume on Friday. Hashrate has dropped some after riding above 165 exahash per second (EH/s), BTC’s hashrate is now only 135 EH/s. There are still roughly 18 mining pools on Friday, with F2pool leading the pack with 24.5 EH/s. The top trading pair with BTC today is still tether (USDT) as it captures 49% of daily trades today. This is followed by pairs like the USD (20.12%), JPY (7.95%), EUR (5.92%), BUSD (4.69%), and KRW (3.16%).

BTC is up over 8% today, 41% for the week, 123% during the last 30 days, 267% for the 90-day span, and 431% against the dollar all year long. The second-largest crypto asset in terms of market cap is ethereum (ETH) which is swapping for $1,253 per unit. ETH has done extremely well this year and is up 72% for the week, 119% during the last 30 days, 238% for the 90-day span and a whopping 812% against the USD for 12 months. Ether only has 13.35% more to go to reach the ATH from three years ago at $1,431 per coin.

Read More