The market capitalisation of Bitcoin increased by $77.89bn during the week leading up to Christmas.
On December 19, BTC had a market cap of $883.01bn. It opened trading at $46,853.87, recorded a high of $48,089.66, but closed at $46,707.01.
BTC’s price recovery continued through last week. It rose slightly last Monday to close trading at $46,880.28.
It increased to $48,936.61 last Tuesday but fell to $48,628.51on Wednesday.
The cryptocurrency jumped to $50,784.54 on Thursday and increased further on Friday to close at $50,822.20.
On Christmas Day, BTC slightly fell as it closed trading at $50,429.86 before recovering on boxing day to $50,809.52. Within the week, trading volumes fluctuated from $25.15bn on the 19th to $20.96bn on Boxing Day.
Prior to this, Bitcoin had shelved $264.28bn from its market cap in 50 days. It had closed the month of October with a market cap of $1.16tn, then fell to $1.08tn by the end of November, before closing with a market cap of $886.33bn on December 19.
– Punch