Bitcoin breaks up, trades above $16,000

The world’s most popular crypto, Bitcoin just broke above 16,000 a few minutes ago.

What we know: At the time this report was drafted BTC traded at $16,086.90 with a 24-hour trading volume of $27,707,707,053.

BTC price is up 1.4% in the last 24 hours. It has a circulating supply of 19 Million coins and a max supply of 21 Million coins.

What this means: This yearly high is more than 300% higher than the yearly low in March at $3,800.

• This is impressive momentum, particularly as the life is being drained from altcoins.
• That said it’s important to know the number of BTC wallets holding at least 10 Bitcoins just reached a 3-month high of 154,476
• The previous 3-month high of 154,470 was observed on 10 November 2020, meaning that a lot of investors are using bitcoin more as wealth preservation in hedging against inflation and most particularly the bias that shows Bitcoin might soon run out of supply.