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  • >Price Check: Bitcoin Flirts with $19,000 as All-Time High Approaches

Price Check: Bitcoin Flirts with $19,000 as All-Time High Approaches

Bitcoin keeps on keeping on, the undisputed king of crypto continued to take big steps over the past week, jumping through $17k and landing over $18k. The question of whether it would get over $17k was resoundingly answered, and now the question becomes when does it slow down? $20k seems well within reach. The entire market has had a green week, many altcoins are experiencing major gains as perhaps money is flowing from Bitcoin gains back into alts.

Is Bitcoin price headed to an all-time high just in time for the end of 2020?

In this weekly segment we will be looking at the top gainers and losers of the week. This will be done in terms of dollar value with a focus on percentage gains of coins within the top 50 by market capitalization. There may be some exceptions to this but for the most part we will be focused on the biggest portion of the crypto market. In addition, there will be a section on cryptos that have lost value when trading them for Bitcoin.

Each week we will also take a look at Bitcoin’s performance, and how it has performed both compared to last year at this time, and its comparative performance to the Dow Jones and S&P 500 Index.

Let us look at the biggest winners and losers of the past week.

Biggest Dollar Increases

Another significant gain by Bitcoin over the past week has resulted in an extremely positive market chart, with no asset in the top 50 losing dollar value. Bitcoin’s success now seems to be rubbing off on all the altcoins, some of which are seeing massive gains. Here are the biggest gainers from the past week:

  • Ethereum (ETH), ranked 2nd, has gained just under 30% over the past week and is approaching $600, currently trading at $593.87 a piece.
  • Ripple (XRP), ranked 3rd, is our biggest gainer of the week with an enormous 90% gain after teasing with 12% gained last week. It is currently trading at just over 53 cents a piece.
  • Polkadot (DOT), ranked 8th, has gained over 25% and is trading at $5.70 a piece.
  • Cardano (ADA), ranked 9th, has gained a massive 43% over the past week and is now trading at just over 15 cents a piece.
  • EOS, ranked 12th, has gained just over 25% and is trading around $3.24 a piece.
  • Stellar (XLM), ranked 14th, has had a huge week as well with 38% gained and is trading at just over 11 cents a piece.
  • VeChain (VET), ranked 26th, has gained over 29% and is now trading at just about 1.5 cents a piece.
  • IOTA (MIOTA), ranked 27th, has gained over 34% and is trading at just over 34 cents a piece.
  • Waves (WAVES), ranked 31st, is our second biggest gainer of the week with over 63% gained after a 41% gain last week. It is trading around $8.02 a piece.
  • Celsius (CEL), ranked 39th, has gained just over 36% and is trading around $2.50 a piece.

Biggest Dollar Decreases

The continued gains by Bitcoin this week have resulted in a very green week for the rest of the crypto market, by dollar value and unlike previous weeks, even their Bitcoin value is growing. With every top 50 asset in the green by dollar value this week the inclusions this week will be from the 50-100 range. Here are the biggest dollar value decreases over the past week:

  • HedgeTrade (HEDG), ranked 62nd, lost 2.5% and is trading for just over 72 cents a piece.
  • Ocean Protocol (OCEAN), ranked 70th, lost just under 4% and is trading at just over 52 cents a piece.
  • ABBC Coin (ABBC), ranked 73rd, has lost over 21% and is trading for just over 22 cents a piece.
  • Quant (QNT), ranked 80th, has lost just under 25% and is trading around $12.55 a piece.
  • Blockstack (STX), ranked 81st, lost just over 14% and is trading at just over 21 cents a piece.
  • THORChain (RUNE), ranked 86th, has lost over 6% and is trading at just over 87 cents a piece.

Biggest Losers Trading Against Bitcoin

While the assets in the biggest dollar decrease section are the biggest losers of Bitcoin value, there are still other assets that have lost value trading for Bitcoin. However, there is not a single asset in the top 50, apart from stablecoins, that have lost value trading for Bitcoin over the past week. This is a first. Here are some of the biggest losers trading for Bitcoin:

Tether (USDT), USD Coin (USDC), True USD (TUSD), Dai (DAI), and all other stablecoins have lost about 10% trading for Bitcoin but are still worth $1 a piece.

Bitcoin Over $18k, $20k Next?

The continued questions of whether Bitcoin can continue its momentum and break through each price threshold seems to be pointless to ask, with Bitcoin gaining another 10% and currently trading at just over $18.3k. It was only asked whether it would break $17k, and it did much more than that. Perhaps we should just skip asking about $19k and instead begin to wonder if $20k is within reach.

The next jump by Bitcoin means it continues to eclipse its price at this time last year, well above what it was trading for. On November 23, 2019, Bitcoin was trading at just over $7.3k, so it is almost 2.5x higher than it was last year at this time and anyone who bought in during that time period or when the pandemic first occurred is absolutely raking in profit.

Bitcoin Continues to Beat Traditional Markets

With yet another 10% gained this week, Bitcoin has beaten the performances of the traditional markets, which have halted their positive gains over the past week and have instead lost value again. The Dow Jones Industrial Average and the S&P 500 Index have lost about 1.65% each over the past week, ending their rebound that seemed to be the result of the election ending. Bitcoin gaining yet another 10% while the traditional markets have lost value over the past week is nothing short of bullish.

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About the Author

Evan Jones

Evan Jones was introduced to cryptocurrency by fellow CryptoVantage contributor Keegan Francis in 2017 and was immediately intrigued by the use cases of many Ethereum-based cryptos. He bought his first hardware wallet shortly thereafter. He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing.