Bitcoin hit 1 trillion dollars marketcap - page 2.

btc_angela

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Quote from: davis196 on March 17, 2021, 12:53:14 AM

Quote from: Oshosondy on February 19, 2021, 05:39:09 PM

This is the first time ever bitcoin reached 1 trillion marketcap in dollars, this proves bitcoin as the new age asset. In just 11 years, bitcoin hit 1 trillion dollars. I have just checked this on coinmarketcap. The price of bitcoin at the time is $55,5329 and with a marketcap of 1.03 trillion dollars. Institutions and many people are buying bitcoin which makes its marketcap to reach this great value.

If somebody told me 4 years ago that Bitcoin is going to hit 1 trillion USD marketcap I would probably have called him crazy. Grin

Anyway,there's no point of focusing on the marketcap anymore.Nowadays marketcaps are overvalued and I don't think that they are accurate.I don't know if most of the crypto exchange platforms are faking their trading volume again,which helps for artificially boosting the Bitcoin(and altcoin) prices.
Bitcoin is the "new age asset" for sure.Let's hope that it will become as mainstream as gold.

Yeah, but I haven't seen any reports about trading platform faking their volume again. We have seen this happening in 2017, and I wouldn't be surprised if this fraudulent practice is being continued up to this day.

I'm checking https://www.bti.live/, no reports in the last year, not sure why they haven't released any update yet. As for $1 trillion market cap, it might be irrelevant, but just nice to have numbers though.

Vishnu.Reang

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Quote from: davis196 on March 17, 2021, 12:53:14 AM

If somebody told me 4 years ago that Bitcoin is going to hit 1 trillion USD marketcap I would probably have called him crazy. Grin

Anyway,there's no point of focusing on the marketcap anymore.Nowadays marketcaps are overvalued and I don't think that they are accurate.I don't know if most of the crypto exchange platforms are faking their trading volume again,which helps for artificially boosting the Bitcoin(and altcoin) prices.
Bitcoin is the "new age asset" for sure.Let's hope that it will become as mainstream as gold.

In a way, you are correct. It is not accurate to rely on the market cap figure, when we don't have accurate estimates about the "lost coins" and the volume of coins that are being held in cold storage. Trade volume could have been a better parameter, but these figures are also inflated by various exchanges. As of now, I rely mostly on trade volumes from some of the reliable exchanges, such as Binance and Bitstamp. Other exchanges are not honest with their daily volumes.

davis196

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Quote from: Oshosondy on February 19, 2021, 05:39:09 PM

This is the first time ever bitcoin reached 1 trillion marketcap in dollars, this proves bitcoin as the new age asset. In just 11 years, bitcoin hit 1 trillion dollars. I have just checked this on coinmarketcap. The price of bitcoin at the time is $55,5329 and with a marketcap of 1.03 trillion dollars. Institutions and many people are buying bitcoin which makes its marketcap to reach this great value.

If somebody told me 4 years ago that Bitcoin is going to hit 1 trillion USD marketcap I would probably have called him crazy. Grin

Anyway,there's no point of focusing on the marketcap anymore.Nowadays marketcaps are overvalued and I don't think that they are accurate.I don't know if most of the crypto exchange platforms are faking their trading volume again,which helps for artificially boosting the Bitcoin(and altcoin) prices.
Bitcoin is the "new age asset" for sure.Let's hope that it will become as mainstream as gold.

Sithara007

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Quote from: Silberman on March 16, 2021, 08:25:35 PM

Eterheum will require a 4x jump and why would that happen? Ethereum is a decent coin but for the most part it has facilitated the creation of thousands of coins of which at best we needed less than 5% of them and hundreds of millions of dollars have been invested in those coins and there is almost nothing to show for such a huge amount of money invested in them, so while there is nothing wrong investing in the coin there is no doubt that such a growth will not come soon and will require a 10x pump from bitcoin for that to happen.

Ethereum, as the first second generation cryptocurrency has its own place in the market. But I have a feeling that it's significance is going down with every passing day. Some of the coins that have used the ERC-20 chain have shifted to their own Blockchains, and due to the high fee many of the projects are looking for alternate options such as Cardano and Polkadot. The other projects are still in their infancy, but it is going to take some time for these projects to pose a challenge to ETH.

Matimtim

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Quote from: Oshosondy on February 19, 2021, 05:39:09 PM

This is the first time ever bitcoin reached 1 trillion marketcap in dollars, this proves bitcoin as the new age asset. In just 11 years, bitcoin hit 1 trillion dollars. I have just checked this on coinmarketcap. The price of bitcoin at the time is $55,5329 and with a marketcap of 1.03 trillion dollars. Institutions and many people are buying bitcoin which makes its marketcap to reach this great value.

May be its because of the world pandemic that we are experiencing now, because of many people buy and use bitcoin in their daily life and that thing leads bitcoin price goes up quickly.

Bitcoin as new form of currency became more popular now that's why its price goes up.

Silberman

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Quote from: crwth on March 15, 2021, 02:28:48 AM

Upon reading this, I immediately thought of a possibility. Imagine another altcoin to reach this kind of market cap. Like Ethereum. I think it is still undervalued but with the recent rising price in gas for transactions, it's still quite hard to be at that level too. Mostly, ETH is used to transact with the tokens in them, so most people are spending it, unlike Bitcoin which has an expensive transaction fee but tends to be HODL'd more.

Ethereum will require a 4x jump and why would that happen? Ethereum is a decent coin but for the most part it has facilitated the creation of thousands of coins of which at best we needed less than 5% of them and hundreds of millions of dollars have been invested in those coins and there is almost nothing to show for such a huge amount of money invested in them, so while there is nothing wrong investing in the coin there is no doubt that such a growth will not come soon and will require a 10x pump from bitcoin for that to happen.

DatKing

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Quote from: Oshosondy on February 19, 2021, 05:39:09 PM

This is the first time ever bitcoin reached 1 trillion marketcap in dollars, this proves bitcoin as the new age asset. In just 11 years, bitcoin hit 1 trillion dollars. I have just checked this on coinmarketcap. The price of bitcoin at the time is $55,5329 and with a marketcap of 1.03 trillion dollars. Institutions and many people are buying bitcoin which makes its marketcap to reach this great value.

It really feels like unbelievable to see this amount of increase in only a 11-year period. 11 years ago, there were so less people who only knew something about Bitcoin and now it is known all around the world and there are many people who are willing to buy some. The change has been really awesome and I hope Bitcoin continues to break new records.

DoctorMark

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Quote from: JohnSmithK on March 15, 2021, 06:54:08 AM

Blockchain technology and crypto assets started gaining prominence again.After the previous high of US$58,300 odd levels in February 2021, Bitcoin had taken a decent correction of around 25 per cent.The optimism has fueled the recent push to the record high after US President Joe Biden signed a massive US$1.9 trillion economic relief package.No wonder bitcoin hit $61000 today and performed well over the weekend but before the end of the day it is pulling back 2% to trade around $58,070 on Monday. (source:kalkinemedia)

All these economic relief packages have really helped fuel the price of bitcoin, do you think theres much risk of a huge dip once all this dies down?

JohnSmithK

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Blockchain technology and crypto assets started gaining prominence again.After the previous high of US$58,300 odd levels in February 2021, Bitcoin had taken a decent correction of around 25 per cent.The optimism has fueled the recent push to the record high after US President Joe Biden signed a massive US$1.9 trillion economic relief package.No wonder bitcoin hit $61000 today and performed well over the weekend but before the end of the day it is pulling back 2% to trade around $58,070 on Monday. (source:kalkinemedia)

Vishnu.Reang

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Quote from: DoctorMark on March 15, 2021, 06:40:44 AM

Estimates have 20% of bitcoin as lost, do you think this will ever factor into MC calculations?

The standard methodology is to take in to account all the circulating coins. It doesn't matter whether they can't be spend because no one owns the private keys. It is the same methodology used for calculating market cap of various equities in the stock market. A lot of the shares are owned by dead people (who haven't left a will), and some of them are in ownership dispute. But for calculating the market cap, all these shares are added together. The same methodology is used with cryptocurrencies as well and that is why we are including the lost coins within the calculation.

DoctorMark

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Estimates have 20% of bitcoin as lost, do you think this will ever factor into MC calculations?

Shasha80

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Actually, the Bitcoin market cap of 1 trillion dollars is not surprising and very predictable. Because more and more institutions are investing
in Bitcoin for the long term, it will increase the Bitcoin market cap. This is a very extraordinary achievement for Bitcoin, I am increasingly
optimistic Bitcoin can provide a better future for human life. With a market cap that has reached 1 trillion, should be able to make the government
aware that Bitcoin is unstoppable. It is time for the government to be more open to Bitcoin and legalize Bitcoin as a payment as a fiat alternative.

crwth

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Upon reading this, I immediately thought of a possibility. Imagine another altcoin to reach this kind of market cap. Like Ethereum. I think it is still undervalued but with the recent rising price in gas for transactions, it's still quite hard to be at that level too. Mostly, ETH is used to transact with the tokens in them, so most people are spending it, unlike Bitcoin which has an expensive transaction fee but tends to be HODL'd more.

worldofcoins

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Quote from: bryant.coleman on March 15, 2021, 01:49:37 AM

Quote from: pooya87 on March 15, 2021, 12:21:50 AM

It's just bitcoin price going up because its adoption is growing not cryptocurrency in general and definitely not the token scam trend that has been trying to become popular again. The tokens whether they are called ICO or DeFi or NFT or whatever remain useless even after this many years. They are created purely to raise funds for no reason and then get some pump and dumps before they die.

Whenever there is a rally with Bitcoin, scammers appear all of a sudden with their shitcoins and worthless tokens. This has happened in 2017, and before that in 2014. This time also the same will repeat. Bitcoin prices are going up because of growing acceptability and mainstream adoption. The same can't be said about any of the altcoins (apart from a few such as ADA and BNB). Their prices are going up in terms of fiat currency, because most of the trade is conducted against Bitcoin.

When there’s a new technology others try to create a copy of it sell same is happening in crypto market.
Shitcoins are generally created as a copy of main coin they want to follow, we all know the chain started when xrp copied bitcoin just changed some protocal on the transactions.

WinBIts

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Marketcap is not so important in general. Price per unit is more important in crypto industry

bryant.coleman

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Quote from: pooya87 on March 15, 2021, 12:21:50 AM

It's just bitcoin price going up because its adoption is growing not cryptocurrency in general and definitely not the token scam trend that has been trying to become popular again. The tokens whether they are called ICO or DeFi or NFT or whatever remain useless even after this many years. They are created purely to raise funds for no reason and then get some pump and dumps before they die.

Whenever there is a rally with Bitcoin, scammers appear all of a sudden with their shitcoins and worthless tokens. This has happened in 2017, and before that in 2014. This time also the same will repeat. Bitcoin prices are going up because of growing acceptability and mainstream adoption. The same can't be said about any of the altcoins (apart from a few such as ADA and BNB). Their prices are going up in terms of fiat currency, because most of the trade is conducted against Bitcoin.

pooya87

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Quote from: best123 on March 14, 2021, 09:00:22 PM

We are already there ($1 trillion). Cryptocurrency is soaring to a height that many will be amazed. It is really revolutionizing the financial world and other sectors with its use cases. Its use cases are wonderful for business. As the break, it keep spreading like the DeFi, NFT etc.

It's just bitcoin price going up because its adoption is growing not cryptocurrency in general and definitely not the token scam trend that has been trying to become popular again. The tokens whether they are called ICO or DeFi or NFT or whatever remain useless even after this many years. They are created purely to raise funds for no reason and then get some pump and dumps before they die.

tbct_mt2

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Its marketcap will take over Alphabet A and Amazon's marketcaps and move to the fourth position in the table. I think it will take more months for bitcoin to take over Microsoft marketcap but it soon will be happened. Do you think bitcoin will move to more than $100,000 for one bitcoin? If you believe so and it will happen in reality, the marketcap of bitcoin will take over the Microsoft's.

Bitcoin does it faster than Microsoft and it is more impressive as it happened one year after the terrible crash in March 2020.

https://twitter.com/binance/status/1370719972972843013
https://twitter.com/binance/status/1370970445168705538
https://assetdash.com/

best123

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We are already there ($1 trillion). Cryptocurrency is soaring to a height that many will be amazed. It is really revolutionizing the financial world and other sectors with its use cases. Its use cases are wonderful for business. As the break, it keep spreading like the DeFi, NFT etc.

Renampun

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Quote from: Oshosondy on February 19, 2021, 05:39:09 PM

This is the first time ever bitcoin reached 1 trillion marketcap in dollars, this proves bitcoin as the new age asset. In just 11 years, bitcoin hit 1 trillion dollars. I have just checked this on coinmarketcap. The price of bitcoin at the time is $55,5329 and with a marketcap of 1.03 trillion dollars. Institutions and many people are buying bitcoin which makes its marketcap to reach this great value.

*the following years will be a thrilling Bitcoin price adventure...
hitting the $ 1 trillion market cap is still the start of IMO. as I have written in an almost similar thread discussing this, the Bitcoin market cap will touch $ 2 trillion, $ 5 trillion, and even $ 10 trillion.

Topic: Bitcoin hit 1 trillion dollars marketcap - page 2. (Read 597 times)