MBTC to US Dollar (MilliBitcoin to USD) | About and Market

Get Into Cryptocurrency Trading Today

MilliBitcoin (or mBTC) is a denomination of the Bitcoin cryptocurrency, but what is one mBTC worth in BTC?

Also: how does the performance of BTC impact this? And how is BTC performing right now, and what is influencing this?

About mBTC

A MilliBitcoin (or mBTC) is a denomination of the Bitcoin cryptocurrency and 1 MilliBitcoin (mBTC) is always worth 0.001 Bitcoins (BTC). As such, 1000 mBTC comprises a single Bitcoin.

BTC is both the largest cryptocurrency in the world by market cap and widely considered to be the progenitor ‘first’ ever cryptocurrency. It is ranked number one by CoinMarketCap in its top 100 cryptocurrencies, ranked by market cap.

Bitcoin Token Performance

Bitcoin is the largest cryptocurrency by market cap, however, it has the second-highest 24hr trading volume behind USDT (apparently, if statistics submitted by Tether and its partners are to be believed).

As of 01/07/2020 (23:54PM), Bitcoin boasts:

• Market cap: $169,981,414,484
• Price: $9,227.96 
• Volume (24hr): $15,946,925,052

As such, one mBTC is currently worth $9.22796.

BTC Has outperformed tokens such as XRP and Bitcoin Cash over the past 7 and 30 days however only through sideways trajectory movements whose losses are less significant than those of its peers. This means that the value has changed little over the course of the month.

This has spelt trouble for short term investors/day traders, as well as affecting futures banking on the tokens' success at this point in time: however, it has also led to more positive reports from those who value low volatility investments who brand the recent status as ‘stable’.

Furthermore, the low volatility correlates with what Coindesk describes as the most stable time for ‘bitcoin mining difficulty’ in 10 years.

What do pundits think?

According to CoinDesk (June 30, 2020): Global head of research at Bitwise (cryptocurrency index and beta fund provider) Matthew Hougan issued a letter to Bitwise investors on June 15 which claimed that Bitcoin could reach as high as $50k “ if its market capitalization reached just 10% of gold’s roughly $9 trillion.”.

Popular Twitter influencer and crypto analyst Willy Woo is working on a new Bitcoin price prediction model according to a tweet published June 27th. He uses this model to make one assumption and one prediction:

• That Bitcoin was working towards a “bullish run until the COVID white swan killed the party”... claiming that “COVID was a model breaking outlier”.
• That we are close to “another bullish run” which may occur in approximately one month.

Woo also concludes that “a long sideways accumulation band is ultimately a good thing.”.

Joseph Young, an analyst who also writes for many crypto publications including Cointelegraph, tweeted on June 28th that he believed there are several “fundamental factors” suggesting a long term bull market: even in spite of what he recognised as “strong arguments for bears in the short term”.

This is in reference to a model published by market analyst @glassnode on the same day.

Buy & Sell Cryptocurrency Instantly