Bitcoin

Churn of Market Capitalization Shows Nibbling Fluctuations: Is Bitcoin Responsible?

Bitcoin

Since the last ten days, the flow of the crypto coins in the market has been an outpouring. Bitcoin and other coins have been showing a dramatic change in prices and jumping to new levels with respect to the year 2019. The crypto market fluctuations are hitting the market with discrete prices for the investors to invest thoughtfully.

The two important vertices of any coin are the trading market price and its circulating supply playing a major role for a market capitalization of the crypto coins in the crypto market.

The chart of global Market Capitalization since the inception of the coins in the crypto market in the year 2013 by Coinmarketcap is as below:

Total Market CapitalizationFrom the above chart, it can be deduced that the scale of market capitalization has been stable for a good four years until it gained popularity, trust, and investors.

It was then from the mid of 2017 that it started gaining momentum with the peak point of Market Capitalization 813,871,000,000 USD achieved in January 2018. Now, the points for recapitulating the momentum of the market are the prices of Bitcoin and various other currencies. These bullish price trends gradually led to increasing supply and circulation of the cryptocurrency. The question is whether this rise in Market Capitalization is due to Bitcoin or not?

In order to get an answer to this question we observe the chart of Bitcoin from its inception till now:

Bitcoin ChartFrom the above chart, it is evident that the scale of Bitcoin prices had been stable. The end of 2017 had observed the peak price for Bitcoin of all times till now in December with the price (USD) per BTC being 17,586.80 having Market Capitalization of 294,476,228,261 USD.

Bitcoin

Now if we compare the global market Capitalization with Bitcoin, it is seen that after the price escalation in December 2017, the market capitalization, on the whole, gained a kick.

The global market capitalization of all the coins is a comprehensive figure, in which the participation of Bitcoin is more than 1/4th which is a great mix indicating that Bitcoin has a major back for generating the global crypto market.

In the graph later after the peak, the point has been achieved; we observe that the scale of Bitcoin and the global market capitalization go hand in hand.

This leads to an obvious conclusion that the first impression is always the last impression and once a forerunner becomes a fetish the footsteps are engraved with gold.

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