Bitcoin Hits 20-Month High, Other Cryptocurrencies Still Struggling to Reach Previous Peaks

Bitcoin's Soaring Value and the Lagging Performance of Other Cryptocurrencies

Bitcoin's value has recently reached its highest level in 20 months, reminiscent of its peak on April 6, 2022. This surge in the premier cryptocurrency's value has also benefited many other digital assets in the crypto market. However, while several of these cryptocurrencies have experienced significant increases that even surpass bitcoin in percentage gains, they have yet to come close to reaching their previous peak values.

Bitcoin's Current High and the Performance of Rival Cryptocurrencies

On December 5, 2023, bitcoin reached a value of $44,490 per coin, its highest level in 20 months. The overall cryptocurrency market is now valued at $1.67 trillion, with a global trade volume of approximately $158 billion recorded in the previous day. Comparing this to April 6, 2022, archived data shows that bitcoin was trading at $43,926 per coin after a 7% drop against the U.S. dollar within a week.

During that time, the cryptocurrency market had a significantly higher valuation of $2.11 trillion, surpassing the current market value by around $440 billion. Twenty months ago, ethereum (ETH) was trading at $3,229 per unit. However, it is currently trading at $2,296 per unit, $933 lower than its previous mark.

Similarly, BNB was valued at $427 per unit in the past, but its current trading price is $231. Solana (SOL) experienced significant activity, priced at $118 at that time, and is now trading at $62. Notably, Terra's LUNA was trading at $107 per coin, but its current value has dropped to $0.00022749 per coin. It has also fallen from the seventh position to the 55th position in terms of crypto asset rankings.

At that time, tether (USDT) had a market capitalization of $82.51 billion, which has now increased to $90 billion. Circle's usd coin (USDC) had an overall market valuation of $50.9 billion, but it has decreased to $24.33 billion. Similarly, terra usd (UST), another stable coin, had a market cap of $16.74 billion, but it has now decreased to $478 million. BUSD's supply has also decreased from $17.7 billion to the current $1.59 billion in the last 20 months.

Bitcoin's Dominance and the Evolving Crypto Market

Bitcoin's recent surge to a 20-month high highlights its dominant position in the crypto market. However, despite this upward trend, many other cryptocurrencies are still struggling to reach their previous peak values. This indicates a diverse and ever-evolving digital currency landscape.

What are your thoughts on the performance of the crypto markets this year? Share your opinions in the comments section below.

Frequently Asked Questions

How much gold can you keep in your portfolio

The amount of money you need to make depends on how much capital you are looking for. If you want to start small, then $5k-$10k would be great. As you grow, it is possible to rent desks or office space. Renting out desks and other equipment is a great way to save money on rent. Rent is only paid per month.

It's also important to determine what type business you'll run. My company is a website creator. We charge our clients about $1000-2000 per monthly depending on what they order. Consider how much you expect to make from each client, if you decide to do this kinda thing.

As freelance work requires you to be paid freelancers, your monthly salary won't be as high as mine. Therefore, you might only get paid one time every six months.

So you need to decide what kind of income you want to generate before you know how much gold you will need.

I recommend starting with $1k-$2k of gold and growing from there.

What are the advantages of a gold IRA

You can save money on retirement by putting your money into an Individual Retirement Account. It's not subject to tax until you withdraw it. You can decide how much money you withdraw each year. There are many types of IRAs. Some are better suited to college savings. Some are for investors who seek higher returns. Roth IRAs permit individuals to contribute after the age 59 1/2. Any earnings earned at retirement are subject to tax. The earnings earned after they withdraw the funds aren't subject to any tax. This account is a good option if you plan to retire early.

A gold IRA is similar to other IRAs because it allows you to invest money in various asset classes. Unlike a regular IRA which requires taxes to be paid on gains as you wait to withdraw them, a IRA with gold allows you to invest in multiple asset classes. This makes gold IRA accounts a great choice for those who want their money to be invested, not spent.

Another benefit to owning IRA gold is the ability to withdraw automatically. This eliminates the need to constantly make deposits. To make sure you don't miss any payments, you can also set up direct deductions.

Finally, gold is one the most secure investment options available. Because it's not tied to any particular country, its value tends to remain steady. Even in times of economic turmoil, gold prices tend not to fluctuate. As a result, it's often considered a good choice when protecting your savings from inflation.

Is it a good retirement strategy to buy gold?

While buying gold as an investment may seem unattractive at first glance it becomes worth the effort when you consider how much gold is consumed worldwide each year.

The most popular form of investing in gold is through physical bullion bars. There are other ways to invest gold. The best thing to do is research all options thoroughly and then make an informed decision based on what you want from your investments.

If you're not looking to secure your wealth, it may be worth considering purchasing shares in mining equipment or companies that extract gold. If you need cash flow from an investment, purchasing gold stocks is a good choice.

You can also put your money in exchange traded funds (ETFs). These funds allow you to be exposed to the price and value of gold by holding gold related securities. These ETFs usually include stocks of precious metals refiners or gold miners.

Is it a good idea to open a Precious Metal IRA

Before opening an IRA, it is important to understand that precious metals aren't covered by insurance. If you lose money in your investment, nothing can be done to recover it. All your investments can be lost due to theft, fire or flood.

Protect yourself against this type of loss by investing in physical gold or silver coins. These items have been around thousands of years and are irreplaceable. If you were to offer them for sale today, they would likely fetch you more than you paid when you bought them.

Choose a reputable company with competitive rates and quality products if you are looking to open an IRA. You should also consider using a third party custodian to protect your assets and give you access at any time.

Do not open an account unless you're ready to retire. Keep your eyes open for the future.


  • If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (
  • Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (
  • This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (
  • If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (
  • (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (

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Investing gold vs. stocks

These days, it might seem quite risky to invest your money in gold. Many people believe that investing in gold is not profitable. This belief arises because most people believe that the global economy is driving down gold prices. They feel that gold investment would cause them to lose money. In reality, however, there are still significant benefits that you can get when investing in gold. Let's take a look at some of the benefits.

Gold is the oldest known form of currency. It has been used for thousands of years. People around the world have used it as a store of value. It's still used by countries like South Africa as a method of payment.

It is important to determine the price per Gram that you will pay for gold when making a decision about whether or not to invest. When looking into buying gold bullion, you must decide how much you are willing to spend per gram. You could contact a local jeweler to find out what their current market rate is.

Noting that gold prices have fallen in recent years, it is worth noting that the cost to produce gold has gone up. So, although gold prices have declined in recent years, the cost of producing it has not changed.

The amount of gold that you are planning to purchase is another important consideration when deciding whether or not gold should be bought. It makes sense to save any gold you don't need to purchase if your goal is to use it for wedding rings. This is not a wise decision if you're looking to invest in long-term assets. Selling your gold at a higher value than what you bought can help you make money.

We hope that this article has helped you gain a better understanding and appreciation for gold as an investment option. We recommend you do your research before making any final decisions. Only then will you be able to make an informed decision.


By: Jamie Redman
Title: Bitcoin Hits 20-Month High, Other Cryptocurrencies Still Struggling to Reach Previous Peaks
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Published Date: Wed, 06 Dec 2023 16:00:10 +0000

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