Bitcoin pierces above $15K threshold

Bitcoin gains more than $4K in the last 48 hours.
Total market cap of all cryptocurrencies surpasses $400 billion for the first time.

Eren Sengezer FXStreet

The BTC/USD pair broke above the $15K mark to a fresh all-time high at $15517 on Thursday, According to the latest available data on coinmarketcap.com, the pair was trading at $15463, adding a massive 18.7% on the day. The pair rose more than 50% since it broke above the 10K for the first time on the last day of November.

Today's rally lifted the total market capitalization of all cryptocurrencies above $400 billion. Bitcoin's volume rose from 57% on Wednesday to 64% of the total cap. Speaking to Bloomberg Television earlier today, Lou Kerner, Founder and Managing Partner at The Social Internet Fund, said that bitcoin's rally was one of the greatest shorting opportunities ever. “You have a lot of zealotry, and a lot of people, including me, who think it’s the greatest thing to ever happen in the history of mankind. You have a lot of people who think it’s a bubble and a Ponzi scheme. It turns out both of them can’t be right,” Kerner further added.

On another development, NiceHash, a Slovenian based digital currency mining marketplace, said that nearly $64 million in bitcoin has been stolen by professional hackers and urged users to change their passwords.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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