Bitcoin has overtaken the highest market cap of decade. 2020 is looking a lot like 2017, at least in terms of crypto trends. The Bitcoin in recent weeks has taken force to again and its value does nothing but grow. So much so that it has just exceeded the maximum market capitalization it has had in its entire history.
The quintessential cryptocurrency has been gaining traction again in this late 2020. In fact, it has practically doubled in value in the last six months. It started 2020 with a value around $ 10,000, had a low of about $ 5,000 in spring and since then it has only risen (not because of the pandemic, in fact it seems that it triggered a panic ), reaching $ 17,600 today. .
Bitcoin market cap: Its greatest value in all its history
This rise has a series of extra consequences, among which the market capitalization of the currency stands out. Market capitalization essentially refers to the total number of shares available (in this case currencies) for their value. The result is the total value that it has as an item.
According to The Block, Bitcoin has just exceeded its historical maximum value in market capitalization in the last few hours. It was on December 16, 2017, when the first big rise of Bitcoin occurred, when we saw its maximum value at $ 328,898,790,192. This figure has been exceeded, taking into account the current value of Bitcoin and the number of coins in circulation, its market cap is at $ 329,915,690,566.
Different factors have made Bitcoin gain strength again and this has also caused different companies and organizations to bet on it. The latest to do so is PayPal, which very recently has allowed its users to buy, sell and pay with some cryptocurrencies such as Bitcoin.
Now the issue is to see if Bitcoin is able to rise again above $ 20,000, a maximum figure that it reached three years ago and since then it has not come close. But, above all, it remains to be seen if it will go down again in an excessive way as it did a few years ago, causing the ruin of some. Predicting this however is almost impossible.