Posted 3 months ago | by @devadmin
Bitcoin has broken $650 billion dollars in total market cap evaluation at the same time that the total crypto market cap has crossed the $1 trillion dollar mark.
Anthony Pompliano, noted the new record set by Bitcoin’s market cap as its value topped the $650 billion mark for the first time in Bitcoin’s entire history. Simultaneously at the same time, the total value of all cryptocurrencies passed $1 trillion Wednesday for the first time ever, according to CoinGecko‘s index of 6,124 assets.
Bitcoin just crossed $650 billion in market cap for the first time in history.
— Pomp 🌪 (@APompliano) January 6, 2021
At the market’s prior peak in late 2017, the total capitalization was just around $830 billion, according to TradingView.
As Bitcoin has continued its epic surge for the past two months while setting new all-time high after high, its market cap has crushed through existing companies’ market caps, including those of Visa, Walmart, and Samsung. The latest company to be left in Bitcoin’s wake is Warren Buffett’s Berkshire Hathaway fund as Bitcoin has crossed above $38,000 setting its umpteenth all-time-high.
Out of that $1 trillion dollars total market cap, Bitcoin’s dominance is at 69% of the market’s value at the time of this report.
Bitcoin has gained 25% in the first week of January, following a more than 300% gain in 2020. In comparison, Ethereum has rocketed for a total estimated gain of 860% Wednesday after trading above $1,200 for the first time since early 2018 as ETH heads for its own all-time high.
As Bitboy Crypto said in a recent live stream this is just the beginning of the bull market, but don’t get too comfortable because as fast as it all goes up it’ll come down.
Bitcoin is currently trading at [FIAT:$37,109.52] UP +7.4% in the last 24 hours according to Coingecko at the time of this report.