According to Cointelegraph: Bitcoin's market capitalization has surged past $1.35 trillion, giving it a significant $1 trillion lead over Ethereum (ETH), as BTC prices climb above $68,000. This marks a new all-time high in the spread between the two largest cryptocurrencies by market cap, with Ethereum currently holding a market cap of $318.32 billion.
Bitcoin's Market Dominance Reaches New Heights
Since October 12, Bitcoin has experienced an 8.9% increase in market cap, fueling speculation about further upward momentum. James Check, lead analyst at Glassnode, highlighted this new milestone in an October 19 post on X, pointing out the record-breaking gap between Bitcoin and Ethereum. He challenged the notion of Ethereum’s potential comeback, hinting that Bitcoin’s dominance may persist.
BTC Market Cap at $1 Trillion Above Ethereum
Bitcoin’s recent price rally to $68,152 is its highest since July 28, when it last hovered around the $1.34 trillion market cap. Bitcoin's all-time high market cap of $1.41 trillion was recorded on May 21, 2021, and it is now ranked tenth among the world’s largest assets by market cap, just behind Meta Platforms with a $1.46 trillion valuation.
Predictions of Massive Growth for Bitcoin
Some analysts believe Bitcoin’s market cap has significant room for growth. Fred Krueger, a Bitcoin maximalist, speculated that Bitcoin could reach a $100 trillion market cap by 2040, pushing BTC to $5 million per coin. Others, like Dylan LeClair, view Bitcoin as a "100 trillion-dollar technology," indicating further bullish sentiment.
Early Stages of Bitcoin's Growth?
Despite Bitcoin's massive market cap, some investors argue that it is still in its early stages of growth. Pseudonymous crypto investor Bitcoin for Freedom emphasized the scale of monetary stimulus during the pandemic, comparing the $16 trillion printed by the Federal Reserve to Bitcoin's current market cap, suggesting that BTC has significant growth potential ahead.
With Bitcoin’s market cap growing rapidly, it continues to outpace Ethereum and cement its position as the dominant cryptocurrency, with analysts and traders forecasting even greater heights in the future.
