Bitcoin's price surged past the $44,000 mark on Tuesday, reaching a peak of $44,011 per unit. Over the last month, the leading cryptocurrency has seen a surge of more than 24%, with a 17% increase in just the past two weeks.
Bitcoin's Remarkable Ascent
This week, bitcoin has experienced a remarkable ascent, with a 14% increase against the U.S. dollar. On December 5th, Tuesday, BTC achieved a zenith of $44,011 at 12:15 p.m. Eastern Time. The trading volume for BTC currently stands at $31.68 billion, which is twice as high as the previous day's volume. Throughout the day, the trading range for bitcoin fluctuated between $41,453 and a little over $44,000.
Reaching Heights Not Seen Since Pre-Terra Crash
The value of BTC hasn't reached these heights since April 6, 2022, before the Terra market collapse. Despite the trading volume of $31 billion, BTC's dominant trading pairs are USDT, FDUSD, USD, USDC, and KRW. The top exchanges for global BTC trading volume today include major platforms like Binance, Kraken, Coinbase, and Bitfinex.
Surpassing Tether in Trading Volume
On Tuesday, BTC's trading volume ranked second, trailing only behind the stablecoin tether (USDT). The recent surge in crypto prices has led to the liquidation of $160 million in shorts over the last 24 hours, with approximately $91.34 million coming from bitcoin (BTC) short positions. This surge in BTC's value has propelled its market dominance to 51.3% amidst a combined value of over $1.65 trillion across more than 10,000 assets.
Bitcoin's Market Cap Surpasses Meta
In addition, bitcoin has surpassed Meta in terms of market capitalization, following its overtaking of Berkshire Hathaway's total valuation. This latest price increase has positioned BTC as the ninth-largest asset in terms of market valuation, a list that includes companies, precious metals, and exchange-traded funds.
What are your thoughts on bitcoin tapping the $44K mark on Tuesday? Let us know in the comments section below.
Frequently Asked Questions
Can the government take your gold
Your gold is yours and the government cannot take it. It is yours because you worked hard for it. It is yours. However, there may be some exceptions to this rule. You could lose your gold if convicted of fraud against a federal government agency. You can also lose precious metals if you owe taxes. However, if you do not pay your taxes, you can still keep your gold even though it is considered property of the United States Government.
Can I own a gold ETF inside a Roth IRA
You may not have this option with a 401(k), however, you might want to consider other options, like an Individual retirement account (IRA).
A traditional IRA allows for contributions from both employer and employee. An Employee Stock Ownership Plan (ESOP) is another way to invest in publicly traded companies.
An ESOP offers tax benefits because employees can share in the company stock and any profits that it generates. The money invested in the ESOP is then taxed at lower rates than if it were held directly in the hands of the employee.
Also available is an Individual Retirement Annuity. An IRA allows for you to make regular income payments during your life. Contributions to IRAs can be made without tax.
What precious metal should I invest in?
This question is dependent on the amount of risk you are willing and able to accept as well as the type of return you desire. Although gold has traditionally been considered a safe investment choice, it may not be the most profitable. Gold may not be right for you if you want quick profits. If you have the patience to wait, then you might consider investing in silver.
If you don’t desire to become rich quickly, gold may be your best option. If you want to invest in long-term, steady returns, silver is a better choice.
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- Are you interested in keeping gold in your IRA at-home? It's not exactly legal – WSJ
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement funds
Online buying gold and silver is the best way to purchase it.
To buy gold, you must first understand how it works. Gold is a precious metal similar to platinum. Because of its resistance to corrosion and durability, it is very rare. It is hard to use, so most people prefer jewelry made of it to real bars of gold.
There are two types currently available: legal tender and bullion. Legal tender coins are those that are intended for circulation in a country. They typically have denominations of $1, $5 or $10.
Bullion coin are not intended for investment. However, their value will increase with inflation.
They aren't circulated in any currency exchange systems. A person can buy 100 grams of gold for $100. Each dollar spent by the buyer is worth 1 gram.
You should also know where to buy your gold. There are a few options if you wish to buy gold directly from a dealer. First, your local currency shop is a good place to start. You can also go to a reputable website such as eBay. You might also consider buying gold from an online private seller.
Private sellers are individuals who offer to sell gold at retail or wholesale prices. Private sellers typically charge 10% to 15% commission on each transaction. A private seller will usually return less money than a coin shop and eBay. This is a great option for gold investing because you have more control over the item’s price.
You can also invest in gold physical. Although physical gold is easier to store than paper certificates you will still need to ensure it is safe. To ensure that your physical gold remains safe, you need to secure it in an impenetrable container such as a vault or safety deposit box.
A bank or pawnshop can help you buy gold. A bank can give you a loan up to the amount you intend to invest in Gold. These are small businesses that let customers borrow money against the items they bring to them. Banks often charge higher interest rates then pawnshops.
The final option is to ask someone to buy your gold! Selling gold is also easy. Set up a simple account with GoldMoney.com and you will start receiving payments instantly.
By: Jamie Redman
Title: Bitcoin Breaks Through $44K Barrier, Reaching Peak Levels Since Pre-Terra Crash
Sourced From: news.bitcoin.com/bitcoin-taps-44000-surpassing-meta-and-berkshire-hathaway-in-market-capitalization/
Published Date: Tue, 05 Dec 2023 19:13:04 +0000