The price of bitcoin touched an all-time high surpassing the $50k handle on February 16, 2021. Cryptocurrency advocates celebrated the milestone as bitcoin has spiked more than 200% during the last 90 days and 400% against the U.S. dollar for the entire year.
- Bitcoin (BTC) has crossed the psychological $50,000 zone after fighting the region for more than 24 hours. The leading cryptocurrency, in terms of market capitalization, has gained more than 154% since the all-time high in December 2017. At around 7:37 a.m. (EST) bitcoin (BTC) hit $50,603 per unit on Tuesday.
- While BTC captures the $50k mark, the crypto asset’s dominance index is only 61% today. This is due to ethereum (ETH) commanding 13.81% of the overall crypto economy’s value and tether (USDT) capturing 2.21%. Meanwhile, cardano (ADA), polkadot (DOT), and binance coin (BNB) all have a touch less than 2%.
- BTC’s hashrate has been very high today and at the time of publication, the network is processing at speeds of around 163 exahash per second (EH/s). Moreover, with the network mining difficulty at 21.43 trillion, it has never been harder to mine than it is today. Despite the massive difficulty, a whopping 21 mining pools are mining BTC.
- The top five mining pools capture a significant amount of SHA256 hashrate as all five operations command 75% of the hashrate. This includes F2pool, Poolin, Antpool, Binance Pool, and Btc.com.
- While bitcoin (BTC) has reached record highs the U.S. dollar looks weaker than ever as DXY Index charts show the currency continues to sink.
