The past week for Bitcoin has been monstrous, breaking all kinds of records reaching new all time highs in several areas of the ecosystem. Check out these four charts which will help you visualize the past week.
Bitcoin’s price goes parabolic
In the chart above taken from our Bitcoin Global Price Index, you can see the price form a hockey stick, which underscores the dramatic price spike. From the beginning of the week the price shot upward, reaching a high of $1879. The price has dropped down nearly $90 since yesterday, which is sitting at $1795 as of this writing.
Bitcoin’s market cap exceeds $30 billion
In this chart taken from the Bitcoin Market Cap, you can see that early in the week the total capital invested into Bitcoin was just over $25 billion. At it’s peak, the total was over $30 billion. At the time of this writing, the total cap has dropped down some to $29.42 billion.
Bitcoin transactions spike
As the price has gone up rapidly, the number of Bitcoin transactions has risen too. As you can see from the number of Bitcoin transactions chart, transactions are cyclical on the Bitcoin network. They go up and down often, typically following patterns of slow times on the weekends, then ramping back up as the week begins and ends. You can actually see the number of transactions begin to rise with the first bull run toward the end of April, and just skyrocket this past week.
Total trading volume stays over $200 million
The total bitcoin traded (buys and sells) across all major Bitcoin exchanges went from $79 million and shot up to $250 million in under 48 hours. Buyers, seller, and speculators all were getting in on the action. The reason for the increased demand varies but it’s more than likely looking like most of the demand is coming from Japan recently.