The market capitalization of the entire cryptocurrency market has set a new all-time high record by crossing $2 trillion in the last 24 hours, which has excited the crypto community. The financial institutions have pushed and played a significant role in sustaining the all-time high market cap of cryptocurrencies like Ethereum (ETH), Bitcoin (BTC), and few others.
Another Significant Milestone
Recently a report amazed the crypto community as the crypto market has achieved another milestone. BTC holders are excited about this news, and they are expecting a bullish trend coming up in the near future.
Apart from the new all-time high (ATH) for the industry, the Bitcoin (BTC) Exchange-traded fund is yet underway, which would ultimately boost the crypto industry. Investment firms based in the United States have back up the digital assets in the cellar for institutional capital and accredited investors, so the recent industries which filed for the Bitcoin (BTC) Exchange Traded Fund (ETF) would purchase for backing up the funds.
The current ATH got in trend within three months as the digital currency market ascended to $1 million on 29th of January, 2021 that has surprised the market, and it is more likely to say that if organizations start buying Bitcoin (BTC), the price would ultimately boost up.
Price analysis of the Legacy Market of the last 24 hours represents that prices spiked yesterday and have surged today as well. Bitcoin’s (BTC)’s price slightly surged by 2%, while S&P and Nasdaq spiked 1.43% and 1.36%, respectively.
While writing this article, Ethereum is showing an outstanding performance with a surge of 25% over the last week as Ethereum crosses $6.5 million in Total Value Locked (TVL). Meanwhile, Bitcoin (BTC) is trading at a worth of $59,000.
In 2017, Bitcoin’s (BTC) trading value was around $96 billion, and a strong competition was held among the cryptocurrencies, which were leading by the organizations who were trying to cripple the novice and even they declared Bitcoin (BTC) to be dead in order to devalue it. Later on, the following year, the director of the Standpoint Research, Ronny Moas, stated via Consumer News and Business Channel (CNBC) that in the future, Bitcoin (BTC) will cross Apple’s market value by reaching $50k and the time transformed the prediction into reality.