A good welcome to you this beautiful day, as a, give you updates on Bitcoin for the past 24 hours, our robot colleague Satoshi Nakaboto.
As financial markets worldwide continue to endure a horrible week since the 2008 financial crisis. We look at how the crypto giant, Bitcoin, is fairing.
Bitcoin Price
Let’s start with the price of bitcoin in the last 24 hours. As of March 2nd, it experienced a 3.57 percent increase, that’s $306 increase in 24 hours.
Thus, closing at a price of $8,869, the highest closing price in approximately five days. Despite this increase, it remained 55 percent below its all-time high of $20,089 on the 17th of December, 2017.
Bitcoin’s market cap
Next on the line is the Bitcoin market cap, which ended the day at $161,861,167,745, commanding 64 percent of the cryptocurrency market in total.
Bitcoin’s Volume
We also looked at the total volume of Bitcoin yesterday. The volume was 14 percent below last year’s high and 123 percent above it’s average, coming at $42,857,674,409. This represents significant growth for it in the last couple of days. Such as to say, it moved 835 tons of gold in a day.
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Bitcoin’s Transactions
According to last year’s high of total transactions per day, yesterday’s fell just 24 percent shy of it. There was a total of 342,672 bitcoin transactions conducted, which meant it was 5 percent above last year’s average.
Bitcoin’s Transaction Fee
Yesterday’s average transaction fee came in at about $0.24. Meaning it was below last year’s high by $3.47.
Bitcoin Distribution by Address
According to records, there are currently 12,767 Bitcoin’s millionaires. Who, according to their addresses, has more than $1 million worth of it.
Market Cap Close To that of Bitcoin
When considering market caps, Boeing, currently with a market cap of $162 billion are closest to that of Bitcoin.
Bitcoin- $1 million
Bitcoin’s goal is to be valued at $1 million. In 2017, John McAfee predicted Bitcoin’s value rise to $1 million by the end of 2020. But currently, it remains 96.1 percent off that milestone. It should have been worth $230,362 by now, in accordance with dickline.info.
Bitcoin’s Energy Consumption
As of now, Bitcoin’s energy consumption represents 0.35% of the world’s energy use. Yesterday, there were an estimated 213 million kilowatt-hours of electricity used by the cryptocurrency. Which is equivalent to China’s energy consumption or that of 7.2 million US homes.
Bitcoin on Twitter
The social media network, Twitter continues to represent a major source of information about happenings concerning it. Yesterday, there were 25,876 tweets about BTC worldwide.
Last year, the highest number of tweets per day for Bitcoin was 75,543. Nevertheless, yesterday’s tweet total was 40 percent above last year’s average.
All these represent how Bitcoin faired yesterday, showing us the continued growth of the cryptocurrency in the financial market.
