Bitcoin crosses the USD 47,000 area, and the crypto economy is close to USD 2 trillion

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The price of Bitcoin exceeded $47,000 on Friday afternoon, and at 4:15 pm (Eastern Time), the value was close to $47,929 per unit. Bitcoin has risen by more than 8% today and by more than 45% last month.

Bitcoin’s value rose 45% last month

On August 13, the crypto economy grew to approximately US$1.99 trillion, an increase of more than 7.4% throughout the day. The value of Bitcoin (BTC) rose by more than 8% and reached an alternative high in August, reaching $47,929 per unit. The 7-day statistics show that the exchange rate of BTC against the US dollar has climbed by more than 11% and has risen by more than 45% this month. Although slightly lower than this afternoon’s high, BTC continued to rise by 304% throughout the year.

However, out of $1.99 trillion, Bitcoin only accounts for 45% of the existing more than 10,000 digital assets. Ethereum (ETH) occupies a 19.4% dominant position in the crypto economy, while BNB and ADA occupy more than 3% of each market. In the past twenty-four hours, BTC’s international trade volume reached 31 billion U.S. dollars, and its market value was approximately 894 billion U.S. dollars on Friday night (Eastern Time).

Tether (USDT) accounts for 54% of today’s BTC transactions, while the U.S. dollar

About 15.1% of orders. Followed by BUSD (5.42%), JPY (4.79%), KRW (3.61%), EUR (3.43%) and USDC (2.02%). Plan B, the creator of the Stock-to-Flow (S2F) Bitcoin model, retweeted a previous tweet he shared on June 20 on Friday, and expects similar value changes in June, July and August.

The same as the tweet reported by Bitcoin website news the next day, this tweet showed B’s worst-case forecast on December 12th at $135,000.

David Russell, Vice President of Market Intelligence for Tradestation Cluster, has a less optimistic outlook than Company B. “Bitcoin has soared by more than 50% from the July 20 low, but the current gains may even be interrupted,” Russell told News Russell added on Friday:

“The recent high of nearly $47,000 is almost exactly the same as the low since April 25. It is also close to below the aggressive levels of sellers from May 16th to 18th. This is usually Bitcoin that has not yet faced the current rally The greatest resistance.”

At the same time, since the price of BTC has exceeded US$47,000, the leading cryptocurrency is facing severe resistance in the psychological zone of US$50,000.


Technical director.

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