- An analyst has given a projection that Bitcoin market capitalisation would reach to half a trillion dollars in 2021
- Bitcoin is bullish and continues to do so as institutional investors are showing confidence in it.
- The market capitalization of Bitcoin has gone up to almost 50%
- BTC price currently is $26,808/BTC and the market capitalization is $498,172 million
When cryptocurrency was launched 11 years ago, everyone was sceptical of its success. Even Bitcoin was also in the question as to will this ever become a real asset for the traders? People had doubts about the future of bitcoin and the cryptocurrency. People felt that it is only a speculative product and cannot see the light of the day. It will have no real value to support its price.
Yet, people being negative about the cryptocurrency and the bitcoin’s future, the magical coin is crossing the half a trillion dollars in the new year 2021. The projection has been made by Changpeng Zhao wrote on his Twitter account.
Bitcoin is on the bullish trend now from quite some time. It saw a downfall in March when the lockdown struck the world due to coronavirus but after October, the coin has been showing the bullish trend and it seems that there is no stopping for it at least for the next year. The coin is experiencing the biggest rally in the history currently. This is not the first time that the currency is running the bullish trend or cryptocurrency has experienced it the first time, but it is different as the increase that is witnessing now in the price of BTC is never seen in the past.
Bitcoin has had a very good and big year so far and will see its brightest future in the year to come. The market capitalization of Bitcoin has gone up to almost 50% this month going up towards an all tune high of $20,000 per bitcoin, pushing the market cap to over $350 billion. This spur has been witnessed due to the increasing interest of the institutional investors and retailers in Bitcoin.
The time has gone when the prices and the market cap of bitcoin were increased due to speculation. Now, the real-time increase in the market cap happens due to confidence and an increasing number of interest by the institutional investors. Hence, the main driver of this bullish rally is the confidence of the institutional investors who enter the market in large numbers. The other reasons that have helped bitcoin increases on the crypto exchange are due to the payment giant PayPal started bitcoin buying and spending services to its 350 million users.
Thanks to the investors who are showing the interest and investing in bitcoin. This has helped bitcoin to increase the market cap and it has reached all-time high prices daily for the past few weeks. The per BTC price currently is $26,808/BTC and the market capitalization is $498,172 million. This is the beginning of 2 year run towards a $1trillion market cap.
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