{"id":450181,"date":"2020-11-18T20:00:20","date_gmt":"2020-11-18T20:00:20","guid":{"rendered":"https:\/\/ktsl888.com\/?p=450181"},"modified":"2024-06-11T14:08:33","modified_gmt":"2024-06-11T14:08:33","slug":"bulls-in-control-total-bitcoin-market-cap-achieves-new-all-time-high","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bulls-in-control-total-bitcoin-market-cap-achieves-new-all-time-high\/","title":{"rendered":"Bulls In Control: Total Bitcoin Market Cap Achieves New All-Time High"},"content":{"rendered":"
Bitcoin still has some room to climb before setting a new all-time high in the price per BTC<\/a>. However, the current market cap of Bitcoin is now currently larger and more valuable than it was back when the cryptocurrency traded higher.<\/p>\n Here’s an explanation of how the leading cryptocurrency by market cap set a new record before a new peak price was set.<\/p>\n Last night, Bitcoin price spiked to well over $18,000<\/a>, potentially putting in a short-term peak after a breathtaking eight-week rally, each new week adding another $1,000 to the asset’s price.<\/p>\n As the price per BTC is traded and buyers and sellers attempt to establish a fair market price, whatever the cryptocurrency trades at multiplied the supply of coins provides the total asset’s market capitalization.<\/p>\n Related Reading | Technical Expert Shows How Bitcoin Path Could Reach Gold\u2019s $10 Trillion Cap<\/a><\/strong><\/em><\/p>\n Bitcoin holding stong above a $200 billion market cap throughout the bear market, is one of the key reasons MicroStrategy CEO Michael Saylor chose the cryptocurrency<\/a> to store his company’s excess treasury reserves. His bet paid off well, and the capital has grown enormously since the buy was coordinated.<\/p>\n Since the buy was made, Bitcoin’s market cap has ballooned to over $330 billion, setting a new all-time high. The price per BTC hasn’t set a new record just yet, but because the circulating supply has increased by over one million BTC over the last year due to the block reward miners receive<\/a>. The lower price yet higher supply still resulted in a larger market cap for the top cryptocurrency.<\/p>\n <\/p>\n Bitcoin is the most dominant cryptocurrency in the space, taking up as much as 67% currently of the nearly $500 billion total crypto market cap<\/a>.<\/p>\n Ethereum is next in line with $50 billion, and the size of the cap shrinks the further you go down the list. The last-ranked coin in the top ten, Cardano, only captures just 1% of Bitcoin’s capital allocation.<\/p>\n <\/p>\n At a market cap of $330 billion, Bitcoin is now more than $100 billion more valuable than payments giant PayPal<\/a> \u2013 the company that recently announced support for crypto, igniting the bull market.<\/p>\nBitcoin Achieves Milestone New Record All-Time High Market Cap<\/h2>\n
The total Bitcoin market cap has set a new all-time high | Source: CRYPTO-CAP BTC on TradingView.com<\/a><\/pre>\n
How The Cryptocurrency’s Market Cap Compares At $330 Billion USD<\/h2>\n
List of publicly traded companies by market cap | Source: Large Caps on TradingView.com<\/a><\/pre>\n