BREAKING - Market Cap hits $1 Trillion

Sithara007

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Quote from: passwordnow on January 08, 2021, 10:50:42 PM

It has decreased somehow and as you've said it was on 68.7%. Because a few days ago it was 70%+ and now it's back to that percentage. Which means that the dominance is getting back again and increasing. If you don't think that a correction won't happen before that. We've been experiencing it whenever it crosses to a new ATH. From $40k and it dropped to $37k and then again, it's happening. We'll get to see more of the corrections for it to start crossing $50k soon.

The Bitcoin dominance is 70.0% right now, and previously it had stayed above the 70% level only for a short time. But the overall trend points to increasing market share by BTC, and it has occurred despite a slight recovery in the XRP prices. When the rally started some three months back, the figure was 58%. It has been continuously increasing even since, and for the next few weeks also we can expect the trends to continue.

passwordnow

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Quote from: passwordnow on January 07, 2021, 05:35:47 AM

Yes! We all witnessed a historical trillion market cap for crypto. It is a wild ride and it's still unbelievable to see this and I'm very much happy to see that we're all still here despite many times the market has been plunging and stressing because of the downfalls that it had showed. Bitcoin dominance decreases but it's price is still continuing. $50k is just the corner but I'm now targeting more than that price. We all want to see $100k very soon.

Bitcoin dominance is decreasing? According to whom? The last time I checked, the Bitcoin market dominance was measured at 68.7%, which makes it far ahead of any other altcoin. In fact the Bitcoin market share is almost two and half times that of all the altcoins combined. The next major target is $50,000 per coin, and I don't expect a correction before that.

It has decreased somehow and as you've said it was on 68.7%. Because a few days ago it was 70%+ and now it's back to that percentage. Which means that the dominance is getting back again and increasing. If you don't think that a correction won't happen before that. We've been experiencing it whenever it crosses to a new ATH. From $40k and it dropped to $37k and then again, it's happening. We'll get to see more of the corrections for it to start crossing $50k soon.

7788bitcoin

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A great milestone for the entire market, we were close to this magical figures in the last rally when the bitcoin touched its all time high valuation but it fell short at around $800 billion but this rally was a bit early than the rest of the time and the valuation of bitcoin touched $40k which is double the valuation than the all time high bitcoin hit last time and still looking strong to move higher.

manfredmann

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This is really something unexpected with bitcoin market in my opinion. The bitcoin market now is so high at the moment and in this case bitcoin could possibly reach 40K$ or more than that as it is possible. I do not really know how market was being dictated by its market price except for that it all depend on those who buy more bitcoins and add it up to the market.

Viscore

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Good news for all of us, this is how big crypto is, and the good thing now is that big portion of the marketcap are from legit coins. Bitcoin still lead at 68% dominance. Can't remember if we reach $1 trillion last bull run, but I think we were just close, please correct me if I'm wrong.

Anyway, I hope the rise will still continue, but let's also be open for a big and long correction to come.

rollingdice

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It must be a milestone for the entire industry. And notable fact is that 70% of the crypto market cap belongs to Bitcoin.

passwordnow

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Quote from: BigBoy89 on January 06, 2021, 07:38:02 PM

Quote from: passwordnow on January 06, 2021, 05:40:39 PM

There's a big discrepancy on coingecko and coinmarketcap's total for the market cap of the crypto market. On coingecko, just now it is $997B while in cmc it's now, $986B. As bitcoin continues to pump, what's better view is to see bitcoin starts to step into a trillion dollar market cap. And that would be the start of everything that we're hoping for during the past years of many lows for bitcoin.

People are going crazy!

Now it's on Coinmarketcap too:

Cryptocurrencies: 8,198Markets: 34,158Market Cap: $1,005,731,705,18624h Vol: $164,518,542,098BTC Dominance: 68.5%

If this FOMO continues, we could see a $50K Bitcoin within just a couple of days!

Yes! We all witnessed a historical trillion market cap for crypto. It is a wild ride and it's still unbelievable to see this and I'm very much happy to see that we're all still here despite many times the market has been plunging and stressing because of the downfalls that it had showed. Bitcoin dominance decreases but it's price is still continuing. $50k is just the corner but I'm now targeting more than that price. We all want to see $100k very soon.

Lorence.xD

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Quote from: Sadlife on January 06, 2021, 06:05:13 PM

This is the beauty of the blockchain, we can see how much is owned and who owns Bitcoin. Although the chart is imperfect and it cannot record all the actual data we may already broken to Trillions.
We wouldn't anticipated these big move from Bitcoin after several years of long hard bear trend. Now look at it hitting trillions, despite hitting rock bottom back in 2019. Now we see progress and institutional adoption, at this rate we might see a $50k price.

With the current supply of bitcoin on the market, I think we will see a slow growth, 50k is not a far fetch but at this moment is still far from happening. Maybe around the 40k mark and anything above we will reach a resistance. The current market cap is really something that could put you in awe, there are only a few things that have hit this mark, this is by far, larger than the biggest companies in the world, with Amazon, Apple, Microsoft and Saudi Aramco the only competitors when it comes to market cap.

arwin100

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Quote from: milewilda on January 06, 2021, 06:46:53 PM

Quote from: arwin100 on January 06, 2021, 05:52:45 PM

The current cap as of this moment is $985B as per CMC shown but if that is reached as shown on Coingecko then it's good indicator that we will have a stronger market in this year. Trillion dollar is no joke and this could acquire a huge attention to more bigger audiences, Maybe for this the ETF approval will come to reality if we can see more huge cap in next following years.

This is really a good milestone or achievement for this market but 1 trillion is just too small for us to be amazed. If we do try to look up on how big the Forex market is
then its The global forex trading market is worth $1,934,500,000,000 (that’s $1.93 quadrillion) which we can tell that there still a big room to grow
for crypto market.

Source: https://brokernotes.co/forex-trading-industry-statistics/

Imagine how big the rise of the cap in in year 2018 up till now we can say its impressive and we cannot compare the marketcap of the forex since in the first place that area is old and many billionaires are pouring their money in that area and we can say that bitcoins/cryptocurrency is underdog on this scene. But what good thing is bitcoin now is stealing the show and maybe the wall street traders are looking at bitcoin and thinking about trading it.

Haunebu

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Never expected this to happen so quickly. I knew events like Halving, COVID etc would help BTC and other popular cryptocurrencies enter a bull run sooner or later, but this is a next-level bull run.

This particular bull-run makes the previous one seem inferior in comparison. BTC crossing $20K and closing in on $40K along with the market cap touching a trillion is seriously mind-boggling.

Happy to see popular altcoins like ETH etc rise alongside BTC steadily. $100K per BTC doesn't seem like a dream anymore at this point.

LogitechMouse

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In general, 1 trillion market cap is probably good but how much percentage of that total market cap is going to the shitcoins.

There are around 8k coins right now and I know that if we remove those then it isn't a trillion anymore. What matters right now is Bitcoin and possibly Ethereum as well. Institutions are constantly accumulating these coins and only few are selling. Bulls are in control while some are just holding knowing that it will give huge profits in the future.

P.S. I just saw that in CMC the total marketcap of the top 10 coins is around $900B which means that the remaining $100B is either in the top 11-100 coins in CMC or in those so many shitcoins out there.

irixo10

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It is now totally clear that Bitcoin means business and as such the entire crypto space is just the way towards the future. Hitting this market cap is no joke and really means a lot to every crypto user, trader and investor. Also, the good fact about this market cap is, it will go a very long way in telling people especially those who thought nothing good can come out of crypto or those who never fails to say thrash about crypto in every given opportunity that, crypto has come to stay and will keep surprising them. Another good fact is that, it will now open more ways for investors to come in, because this will give them the assurance that crypto is the future; this is just the beginning more is yet to come.

Walterhank

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I think this is only the start we will see a significant rise in it as the trading and investing increases. With institutions eager to invest huge amounts this will happen in no time at all.

davis196

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Bitcoin and Ethereum have a combined market cap of 800 billion US dollars.The remaining 200 billion USD market cap belong to hundreds of shitcoins,which nobody cares for.I guess that it is time for Coinmarketcap and Coingecko to remove all the shitcoins,from their cryptocurrency rankings.
I'm sure that the 1 trillion dollar cryptocurrency market cap is a result of the cheap loans,stimulus checks and "money printer go brrr...",so we have to be thankful to the Federal Reserve for this historical moment. Grin

hatshepsut93

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"Cryptocurrency" marketcap is irrelevant, only Bitcoin marketcap is important, and even then it's not hugely important. We're seeing a big shortage of supply, few holders want to sell, so the price grows very fast. This means that there are no hundreds of billions of dollars being actually put into Bitcoin, like some people might think.

And going back to cryptocurrency, how many billions of dollars in marketcap belongs to scamcoins, zombie projects, shitcoins, useless tokens, etc.?

btc78

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Quote from: Qcrypto on January 06, 2021, 04:17:29 PM

Taken from Coingecko

This is historical moment. We are in Trillion dollar club

Finally we Break the much awaited 1 trillion Dollars Market capitalization , Now we can say that we are Stable and confident on what market are we staying and investing , this is now serious Amount and won't be denied by all the institution in regards to Currency involvements .
In 2017 we almost took this but almost 200 billion shorter , now this is reality and thinking what would be the next best thing after this.

Sithara007

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The peak valuation reached during the 2017-18 bull run was $815 billion, and the current market cap is almost 25% higher than that amount. However, back then only around 40% of the total cryptocurrency market cap was made up of Bitcoin. Around 57% was made up of altcoins and the remainder was made of stablecoins and Bitcoin forks. The situation is different now. Bitcoin market share has increased to 68.5% and the altcoin market share is only around 25%.

idrisalomagold

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Woohoo, we are now in the trillion market industry. This may be the start of the robust market that will be engaged by institutional players, retailers to achieved mass adoption. This is the confirmation of the bull market cycle that may target BTC price to reached 50k or more.

yazher

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Quote from: Sadlife on January 06, 2021, 06:05:13 PM

This is the beauty of the blockchain, we can see how much is owned and who owns Bitcoin. Although the chart is imperfect and it cannot record all the actual data we may already broken to Trillions.
We wouldn't anticipated these big move from Bitcoin after several years of long hard bear trend. Now look at it hitting trillions, despite hitting rock bottom back in 2019. Now we see progress and institutional adoption, at this rate we might see a $50k price.

If the price will continue to grow this year without some major changes or some negative impact in the market by some happenings with the other exchanges, the price will continue to grow despite the others who don't want to get involved with bitcoins. Some of the people are now getting some decent earning while others continue to have doubt in their minds whether they join this revolution or not. Nevertheless, those who are consistent with their support are the ones getting some good income here because of their perseverance in the past until now. Indeed, we are recording some history now and the least we can do is support it.

Darker45

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Quote from: nelson4lov on January 06, 2021, 05:47:59 PM

This is a phenomenal moment for Bitcoin.

This is not Bitcoin's moment really. That $1 trillion market cap is cryptocurrency's total market cap as far as Coingecko's list is concerned. That, of course, includes the market caps of thousands and thousands of shitcoins whose price value they owe primarily to Bitcoin's fast price appreciation. Bitcoin's market cap is below $700 billion as its dominance is only around 67%.

While this is a reason to celebrate, this is a minor one. This is not what I am waiting for with great excitement. I am looking forward to Bitcoin alone conquering that $1 trillion market cap. That is one big milestone, a lot bigger than this one.

Topic: BREAKING - Market Cap hits $1 Trillion (Read 301 times)