According to data by TradingView, on Friday (January 8), at around 11:06 UTC, on Coinbase, the Bitcoin price broke through the $41,000 level, and six minutes later, it reached $41,380, setting yet another record high, and making its market cap greater than Facebook’s.
Per data by CryptoCompare, currently (as of 11:33 UTC on January 8), Bitcoin is trading around $40,724, up 7.54% in the past 24-hour period and up 40.56% in the year-to-date period. Bitcoin’s market cap is roughly $732 billion at the moment.
At 11:12 UTC, when Bitcoin’s price reached its new all-time high, its market cap became roughly $769.4 billion, which is greater than Facebook’s market cap ($76.45 billion) as of the end of yesterday’s regular trading session.
Binance Co-Founder and CEO Changpeng Zhao (aka “CZ”) said earlier today that he was seeing insane traffic on his exchange.
Bitcoin advocate Ma Keiser said yesterday (January 7) that if Bitcoin’s current bull run keeps going and the price reaches $80,000, then that would mean its market cap has surpassed the value of all the silver mined on earth.
Crypto analyst Josh Rager seems to think that it Bitcoin whales managed to manipulate the price to bring it down as much as 50% (to shake off weak hands), Bitcoin’s price would be able to recover, and the price would then head toward $100,000.
Here are a few interesting Bitcoin-related metrics by crypto analytics firm IntoTheBlock:
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.