The cryptocurrency market kicked off Christmas with a bullish rally, with Bitcoin hitting its all-time high close to $25,000.
December 25, 2020 | AtoZ Markets – Bitcoin hit its all-time high on Friday, December 25, setting a new ceiling for the BTC/USD trading pair at $24,737 on BitMEX at 11:53 GMT. The bitcoin dominance index rose to 68.45%.
The total capitalization of the cryptocurrency market has grown to $667 billion.
Bitcoin & crypto market kicked off Christmas with highs refresh
Together with Bitcoin, the entire cryptocurrency market has grown. At the time of this writing, all assets from the top 10 by market cap have gone bullish.
It is noteworthy that XRP gained the most from the top 100 cryptocurrencies in terms of capitalization (an increase of almost 40%). The growth comes against the backdrop of the appointment of a new head of the US Securities and Exchange Commission (SEC), Elad Roizman.
However, Bloomberg already predicts that with the coming to power of Joe Biden (will take place in January 2021), Roizman will be replaced by a candidate loyal to the Democrats.
As a reminder, since December 22, the price of XRP went to a steep peak after Ripple announced the impending lawsuit from the SEC. A couple of hours later, the regulator made formal accusations against Ripple, increasing the asset's fall. The local minimum in the XRP/USD trading pair was reached on December 24 at $0.227.
ETH/USD is also growing, the coin jumped by almost 8% to $ 626. In addition to the general bullish trend, the ETH rate is helped by the activity in the decentralized finance (DeFi) market.
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