Bitcoin Price Today: November 1, 2024
Bitcoin, the world's most popular cryptocurrency, has been making headlines once again as of November 1, 2024. The digital currency has seen a significant movement in its value, and here's a detailed look at the current market conditions.
Bitcoin Price Overview
As of November 1, 2024, the price of Bitcoin (BTC) stands at $70,338.20. This figure represents a slight fluctuation from the previous day's closing price of $70,628.20. The highest price recorded in the last 24 hours was $72,696.00, while the lowest was $69,688.00.
Historical Price Comparison
Looking at Bitcoin's historical price, the highest recorded price was $73,750.07, while the lowest was just $0.04865. This shows the extreme volatility that Bitcoin has been known for over the years.
Market Activity
In terms of market activity, Bitcoin has seen a 24-hour trading volume of $576,989.97. The total market capitalization of Bitcoin is currently at $1,389,095,635,373.50, making it the largest cryptocurrency by market cap.
Supply and Circulation
Bitcoin has a total supply of 21 million coins, with 19,775,975.00 coins currently in circulation. This means that the circulation rate of Bitcoin is 94.17%, leaving a small percentage of coins yet to be mined.
24-Hour Performance
The 24-hour performance of Bitcoin has shown a slight increase in value, with a 24-hour trading volume of $40,596,322,113.22. The 24-hour price change has been 4.32%, indicating a relatively stable market for Bitcoin.
Market Trends
Analysts have been closely monitoring the market trends for Bitcoin, and there are several factors that have contributed to its current value. These include global economic conditions, regulatory news, and technological advancements in the cryptocurrency space.
Economic Factors
Economic factors such as inflation rates, currency devaluation, and geopolitical tensions have been driving investors towards cryptocurrencies like Bitcoin. The digital currency is often seen as a hedge against traditional financial markets.
Regulatory News
Regulatory news has also played a significant role in the Bitcoin market. Countries around the world are increasingly considering regulations for cryptocurrencies, which can either boost or hinder their adoption.
Technological Advancements
Technological advancements in blockchain technology and the development of new applications for Bitcoin have also contributed to its growth. Innovations in scalability, security, and privacy are making Bitcoin more attractive to investors and users alike.
Conclusion
As of November 1, 2024, Bitcoin is trading at $70,338.20, with a 24-hour price change of 4.32%. The cryptocurrency market remains volatile, but Bitcoin continues to be a significant player in the global financial landscape. With its potential for growth and innovation, Bitcoin remains a topic of interest for investors and enthusiasts worldwide.
Tags
