The major cryptocurrency is seeing the biggest gains out of the top 20 coins by market cap, up 4.4% over the past 24 hours at press time, while the rest of the top 20 list are seeing mixed signals. Binance coin (BNB) is down 4.3%, while cosmos (ATOM) is down 5.6% at press time.
Bitcoin is also seeing the biggest gains over the past 7 days, holding around 9.1% gains at press time.
Market visualization from Coin360
Bitcoin has continued hitting new 2019 records this week, having surged to as high as $6,353 earlier in the day. At press time, the biggest cryptocurrency is trading at $6,304 with a market cap of $111 billion. This is the highest share of the market since December 2017, when bitcoin was approaching its all-time high of $20,000.
Bitcoin 1-year price chart. Source: CoinMarketCap
At press time, bitcoin’s dominance rate accounts for 58% of the overall crypto market.
Percentage of total market cap (dominance). Source: CoinMarketCap
Ether (ETH), the second-largest cryptocurrency by market cap, is up 2.1% to trade at $172 as of press time, seeing almost equal gains over the past 7 days, up 2.7%.
Ether 7-day price chart. Source: CoinMarketCap
XRP 7-day price chart. Source: CoinMarketCap
Total market capitalization has surged to the volumes of mid-November 2018, accounting for $192 billion at press time. Daily trade volume amounts to $56 billion.
Total market capitalization 7-day chart. Source: CoinMarketCap
Yesterday, Galaxy Digital CEO Michael Novogratz predicted that bitcoin will break new all-time-highs within 18 months, adding that the $6,000 threshold is likely to be a stall point, while the next price point will be $10,000.
Meanwhile, the government of Liechtenstein recently passed new blockchain and crypto-related regulation in order to improve investor protection and establish more clarity in the industry.
While crypto markets have seen a major bullish move this week, global stock markets have seen a massive sell-off, with investors having withdrawn over $20.5 billion from global equities in the past week amid tensions between the United States and China, CNBC reports. At press time, the Dow Jones Industrial Average (DJIA) is down 0.3%, while S&P 500 (SPX) and Nasdaq (NASDAQ) Composite are both down around 0.2%.
Oil prices are seeing mixed signals at press time, with West Texas Intermediate (WTI) crude oil down 0.3% on the day, while Brent crude is slightly up around 0.1%, according to Oilprice.com. The OPEC basket dropped 0.8% as of press time.