Bitcoin market cap breaches $500,000,000,000.
The new record-highs for Bitcoin come less than three days after breaking resistance at $24,000. This also means that BTC price has now doubled over the past two months after gaining nearly $10,000 in the month of December alone.
Bitcoin’s market capitalization is also now over $510 billion, which puts it just under Warren Buffett’s Berkshire Hathaway, the tenth-largest company in the world. This comes less than a day after surpassing Visa’s market cap.
At the same time, the current bull cycle appears to be different and more sustainable than in 2017 with many traders expecting more upside over the coming months. The reasons for this include less available supply on exchanges, stronger fundamentals, a frenzy of institutional buying, and still relatively little interest from retail buyers.
However, this doesn’t rule out the possibility of major pullbacks in the near term, particularly as BTC price appears to be steaming toward the next psychological resistance at $30,000.
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