Bitcoin Blasts To All-Time High of $35,800 as Market Cap Eclipses Alibaba

Bitcoin prices have hit a new record high today of just over $35,800, causing a wave of elation on crypto social media.

The big move came a couple of hours ago during the Asian trading session on Wednesday, January 6, and has added a whopping 15% to the price of Bitcoin over the past 24 hours.

The price peaked just below $36,000, according to, which is showing current prices at just over $35,300 at the time of writing.

Bitcoin price
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The massive move has added a whopping 28% to BTC prices over the past seven days and 80% in the past 30 days. It is hard to fathom that Bitcoin was trading at just over $8,000 this time last year.

Market capitalization for the king of crypto is also at an all-time high of just over $655 billion, according to Coingecko, placing it just above Alibaba and in the top ten largest companies. OKEx CEO Jay Hao observed that it had flipped the Chinese e-commerce giant at the peak price.

In terms of market dominance, Bitcoin now commands 70% of the entire crypto market, with that total approaching a milestone trillion dollars.

Crypto Twitter Reaction

As expected, there was a massive reaction to the new ATH on crypto twitter with some of the big names in the industry becoming instantly wealthier.

Alex Krüger, meanwhile, held a poll asking when BTC will be trading over $50,000. The majority are so overwhelmingly bullish that the top vote was “within a month.”

Technical analyst Tone Vays predicted the move a few hours before it happened;

“Bitcoin has just double topped on the 1hr chart. The MRI has been calling the moves perfectly for a week… I’m expecting $35k to be broken next 24 hour,”

Analyst Josh Rager, meanwhile, predicted more price peaks this year;

Other Big Market Movers

Bitcoin has not been the only digital asset on fire today as it has been outperformed by Cardano. ADA prices have pumped a monumental 27% over the past 24 hours to reach $0.27 for the first time since May 2018.

Ethereum has managed to reclaim $1,150 in a 12% move while Litecoin grabbed 10% to reach $163. Stellar Lumens is beating them all, though, as XLM pumps 38% to hit $0.22, its highest price for over two years.

Total market capitalization also reached a new all-time high of $967 billion, according to Coingecko.

For more cryptocurrency news, visit the Altcoin Buzz YouTube channel.


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