Bitcoin Market Capitalization crosses $300 billion on expectation of Futures Trading
December 8, 2017 10:11 am
Bitcoin is ruling the cryptocurrency world now, its parabolic price movement is confusing the traders whether bitcoin will increase or decrease. As of now, it is being on the top and trading at $16,700. But it looks like the market cap for the Bitcoin alone has now reached beyond $300 billion. The combined market cap for all the cryptocurrencies is quickly on $450 billion.
Just before two weeks, the market cap for all the cryptocurrencies had crossed the $300 billion level, even the Bitcoin was trading at the top level. Anyhow, at the same time, Bitcoin’s incredible growth has left the market in the dust, its own market cap is becoming double from the past two weeks.
The price has risen beyond $17,000 has been the cause of the market cap growth, since the considerable amount of money has rushed into the marketplace. The consideration of Bitcoin entering futures both in the US and abroad has given a reason for the institutional investors to be a part of the significant way.
Although a bubble cries continue to be public, investors such as Mark Yusko suggest that the price has just begun to rise. Bitcoin’s continuous front-page coverage only helps in mainstream media. Although coverage is negative, people are thinking of currency.