Backed by a new all-time high (ATH) price of $81,000, Bitcoin's total market capitalization has surpassed the $1.6 trillion mark for the first time since its launch in 2009.
On November 11, Bitcoin (BTC) reached a market capitalization of $1.62 trillion amid a prolonged bull market, bringing the global cryptocurrency market capitalization back to its previous all-time high of $2.71 trillion, according to data from TinTucBitcoin and CoinMarketCap.
Bitcoin's market capitalization reached 1.62 trillion USD. Source: CoinMarketCap
The recent bullish assessment also ensures that all Bitcoin investors over the past 15 years have maintained a profitable portfolio, according to Blockchain.com. This finding implies that all unsold Bitcoin investments over the past 8,900 days have increased in value, as illustrated below.
The number of days holding Bitcoin is profitable compared to the current price. Source: Blockchain.com
The current circulating supply of Bitcoin — the total number of Tokens released into the market — is 19.78 million BTC. If Bitcoin reaches a maximum supply of 21 million BTC, the market capitalization of BTC will record a fully diluted valuation (FDV) of 1.7 trillion USD.
Some factors contributing to the sustainable growth of Bitcoin are the increasing interest from institutional investors, the supportive stance on Cryptocurrency from newly elected US President Donald Trump, and the general optimism of investors.
Most recently, Bitcoin reached a market capitalization of 1 trillion USD in February 2024, when the price of BTC surpassed 51,000 USD. However, this asset has struggled to maintain the milestone due to the impact of the Bitcoin halving.
The recent price increase of Bitcoin to 80,000 USD has led many traders to believe that 'this is just the beginning' of the anticipated Bitcoin bull market.
On November 10, Bitcoin analyst Tuur Demeester urged Bitcoin investors to hold their investments and avoid hasty short-term actions such as selling their holdings.
Glassnode's top analyst, James Check, also known as 'Checkmatey', shares a similar viewpoint, explaining that the 'gap' between price and the 200-day moving average (DMA) remains 'cold'. Therefore, he predicts more room for the price increase of Bitcoin.
Follow @TinTucBitcoin for the latest updates.
#tintucbitcoin #Write2Win #btc #binance #bitcoin $BTC $ETH $BNB
