Bitcoin (BTC) prices - Nasdaq offers cryptocurrency prices & market activity data for US and global markets. Dec 15, · Bitcoin is up % for the day, with a market value of about $ billion. It has a circulating supply of 18,, BTC coins and a maximum supply of 21,, BTC. Michael Saylor had a month ago, disclosed how billionaires, could turn the price of Bitcoin up at least three bitcoinlife24.de: Olumide Adesina. Dec 20, · Not so fast. Even following its monumental rally, bitcoin has a total market value of $ billion. That compares to approximately $ trillion in global gross domestic product (GDP) in
Market value bitcoin buybitcoinlife24.de Markets | Price, Charts, News
The report as retrieved from Bloomberg gave an in-depth analysis on why the odds are now with the flagship crypto asset trading near record highs.
Proponents argue the cryptocurrency is gaining more recognition as a portfolio diversifier amid dollar weakness, somewhat akin to gold. Others remain wary of such grand claims since the crypto world is prone to high volatility and bouts of scandal.
Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading and Financial market reporting.
This site uses Akismet to reduce spam. Learn how your comment data is processed. XRP has rebounded strongly on Christmas day. S Securities and Exchange Commission. Securities and Exchange Commission. Congratulations, Chairman Roisman! I look forward to your leadership of the SEC. Ripple and its top executives were accused by the U. Whale alert! Bitcoin is up 1. This makes it very easy for anyone to see the transactions and balances of any BTC address. Grayscale added more than 10, Bitcoin to its crypto holding, bringing the total number of Bitcoins under its management to , Per Sonnenshein , the current Bitcoin bull market is different from the bull run.
READ: U. Get the scoops and market intelligence that can help you make better investment decisions right in your mailbox. Connect with us. Not so fast. There are not nearly enough tokens in existence to drive widespread adoption, based on these figures.
As one additional note, there are about Removing these nonemployer businesses leaves 7. Census Bureau in According to Fundera, just 2, of these businesses are accepting bitcoin. Bitcoin bulls are also pretty convinced that the most popular digital currency is now a bona fide store of value: i. When coupled with the central banks' pledge to keep its federal funds rate at or near record lows, it's pretty evident that the U. Crypto investors believe that a ballooning money supply is a green flag for bitcoin to head significantly higher.
The issues I have with the store-of-value thesis are twofold. First, bitcoin isn't backed by any other asset or government. Therefore, it has no tie-ins or official relationship to the movements of the U.
Implying that a ballooning money supply should push bitcoin higher is nothing more than a dart throw. Second, store-of-value assets are designed to maintain their value over time and protect investors from volatility. Yet in March, bitcoin nearly lost half of its value in a hour period. In , bitcoin lost about half its value in about six hours. This isn't how a store-of-value asset behaves. Bitcoin optimists will also crow about bitcoin leading the digital payments revolution.
Going cashless could resolve the issues created by certain regions of the world being underbanked. Additionally, the blockchain technology that underlies bitcoin could revolutionize the payment processing and settlement time frame, especially in cross-border transactions. While I don't disagree that a digital payments revolution is underway, or that blockchain could offer global financial and supply chain solutions, bitcoin isn't the vessel that's going to make this vision a reality.
The interesting thing about blockchain is that it can be tethered to multiple types of digital currency, be used in conjunction with fiat currency, or can operate independent of a tethered token. There's absolutely zero evidence that bitcoin is necessary to support a blockchain revolution. To add, buying bitcoin tokens does not give an investor any ownership in the underlying blockchain. With no ownership in the solution that has the potential to actually drive this digital revolution, bitcoin investors are pinning their hopes on other investors being willing to pay more for a currency that exists only in computer code than they did.
So, why is bitcoin rallying? I'd surmise it's a combination of short-term emotions, technical analysis i. After all, it's nowhere near as easy to bet against bitcoin as it is to bet against a publicly traded stock. History has proved that sentiment can shift at the drop of a pin in the cryptocurrency space. I'd suggest investors keep their distance from bitcoin. Investing Best Accounts. Stock Market Basics. Stock Market. Industries to Invest In. Getting Started.
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