The total capitalization of Bitcoin is now $ 406 billion
While the cryptomaniac community celebrated that Bitcoin had surpassed its historic price of $20,000, the digital currency soared and surpassed $22,000 in less than 12 hours.
Now Bitcoin is up 14% and traded for $22,108. In Brazil the asset has already surpassed $ 112 thousand, the highest value ever seen.
The digital currency, therefore, continues with an upward trend and in price discovery mode, in spite of rumors that some whales – great holders – would be prepared to make profit and make the price fall.
At the beginning of Wednesday (17) the Bitcoin was trading in the range of $ 19,336, and at the end of the day the asset was already worth $ 22,108, that is, a high of $ 2,772 in just one day.
Although the digital currency is reaching higher and higher values, some market experts recommend caution, suggesting that people do not buy the currency just because the price is rising.
Brian Armstrong, CEO of Bitcoin’s largest US broker, made a Twitter post expressing his opinion:
„We believe that cryptomoeda is a truly revolutionary innovation and at Coinbase we have a long-term market vision.
Although it’s great to see bullheads in the market and see news organizations turning their attention to this emerging asset class in a new way, we can’t emphasize enough how important it is to understand that investing in cryptomoeda is not risk-free.
Cryptomoeda can be a volatile asset class – many times more than the traditional types of financial instruments that most investors are used to“.
Digital currency shows no sign of slowing down and continues to grow. Total market capitalization has increased by more than $50 billion in less than 24 hours, totaling $600 billion.
The total capitalization of Bitcoin is now $406 billion, or $0.4 trillion. In comparison, Google is valued at $1.0 trillion, Apple $2.0 trillion, the total gold market is $9.0 trillion.
Bitcoin can fall at any time as well as it can exceed the value of any giant company, everything depends on the market and who believes in cryptomime as a reserve of value and currency of exchange.
Currently less than 2% of the population has Bitcoin. This year the rise of the digital currency was driven by the entry of institutional investors, which continues to happen all the time.
Whether the rise will continue or not, nobody can say for sure, but…
Meanwhile the dollar faces a 3.77% drop in the week.