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Crypto Market Value Reaches 1 Trillion USD

Crypto Market Value

The crypto market value hit the record high price of 1 Trillion USD on Wednesday, January 6th, 2021 according to Trading View. At the time of this writing, the value has gone slightly down to 997.82B USD.

Crypto Market Value

All cryptocurrencies have been soaring since the start of 2021. Bitcoin broke the $35K barrier on Tuesday. It went on to reach the whopping $37K. BTC’s value makes roughly 70% of the total market cap.  Crypto market’s bullish rally is stronger than ever and there is no end in sight.

Crypto traders are no longer surprised by such big numbers. The rise in value seems evident in the face of institutional trust bestowed upon crypto in the past couple of months. US government especially has introduced new regulations that could infuse the fintech industry into the traditional financial market. Crypto advocates are active more than ever on different forums. In addition, big investors are turning towards cryptocurrency for long term investments.

Decreasing Supply is Pushing Crypto Market Value:

The bitcoin fork in 202o was bound to bring bullish rally. The crypto analysts were hinting the parabolic rise of bitcoin as halving would diminish the supply of BTC. One of the optimistic models was presented by a Twitter user, PlanB. His Stock and follow model predicts the bitcoin price to reach 100,000 million USD.

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ETH, the second most popular cryptocurrency, is following footsteps of BTC with an upward trend. Ether price has gone above $12,000 for the first time since 2018.  Litecoin value is also nearing $200.

The strong fundamentals of cryptocurrency are making it an important asset class. It will soon compete with gold. Hence, the 21st century is the best time to invest in crypto.

  • Note: Learnt about trading tips, crypto market indicators, best exchanges and best crypto trading bots on our blog.
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