Bitcoin adds $41 billion to market cap in 6 days

coolcountry

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Quote from: HabBear on November 17, 2017, 12:05:29 PM

People keep talking about market cap but it's really not that valuable of a metric. It's only useful when comparing the size of two investments of the same type. The fact that Bitcoin added $41 billion in market cap sounds like a big deal, but it's not. It just means the price increased by 14% in a week. Is that a big deal?

Don't you think it is? I mean both the $41bn cap increase and the 14% price increase are incredibly remarkable numbers. And within 6 days!

HabBear

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People keep talking about market cap but it's really not that valuable of a metric. It's only useful when comparing the size of two investments of the same type. The fact that Bitcoin added $41 billion in market cap sounds like a big deal, but it's not. It just means the price increased by 14% in a week. Is that a big deal?

nightmanisrightman

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Global Risk Exchange - gref.io

Quote from: XECTA on November 17, 2017, 11:43:27 AM

Bitcoin adds $41 billion to market cap in 6 days as it hits all-time high of $7,998
Bitcoin hit a new record high Friday and was within touching distance of the $8,000 handle
Coinbase said that there was still a possibility of a planned Segwit2x upgrade happening that would cause bitcoin to split and create a new cryptocurrency
The possibility of the Segwit2x upgrade appeared to be the catalyst for the rally

Yeah but what is bringing this surge on then? The first one makes sense and so did the correction here but this surge up what is it due to. To me it seems like the CME announcement and big money coming in is still pushing

BTC to heights never seen before this is the only logical answer I got.

XECTA

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Bitcoin adds $41 billion to market cap in 6 days as it hits all-time high of $7,998
Bitcoin hit a new record high Friday and was within touching distance of the $8,000 handle
Coinbase said that there was still a possibility of a planned Segwit2x upgrade happening that would cause bitcoin to split and create a new cryptocurrency
The possibility of the Segwit2x upgrade appeared to be the catalyst for the rally

Topic: Bitcoin adds $41 billion to market cap in 6 days (Read 241 times)