Bitcoin Forum

Bitcoin's total market cap has soared past $1.3 trillion, now sitting at a staggering $1,370,542,241,397. It has surpassed the total market value of the world's four largest banks combined!

BTW, with just two weeks left until Bitcoin's fourth halving, there are only 2,000 blocks remaining. Coinbase's institutional research analyst, David Han, dropped a report yesterday, highlighting Bitcoin's evolving status as digital gold. This increasing acceptance of Bitcoin as a 'digital gold' could potentially attract a fresh wave of investors into the market. This means that more demand brewing in this market ecosystem. So, brace yourselves, folks.  Unlike previous cycles, we might witness a more aggressive buying spree during price pullbacks. Even in the midst of volatility, buyers could be more proactive this time around.

But let's not forget the golden rule of crypto: expect the unexpected. Bitcoin's journey has been nothing short of a rollercoaster ride, and volatility is its middle name. After all, in the world of Bitcoin, one thing's for sure: it's always an exhilarating ride!

Market capacity is a reflection of the price and the limited supply, but it does not mean the true value. However, it gives a general indicator of growth, which may exceed Apple or Aramco at some point in the next year if Bitcoin breaks the $100,000 barrier.
The effect of halving takes some time, so do not expect anything during this year.

Bitcoin's capitalization is still very small compared to gold's capitalization, so it is still very early and there are many opportunities for those who want to find life-changing opportunities. People often look at the price of bitcoin and think that it is too expensive and that investing in it at this point will no longer bring significant profits. But if they look at the supply and market capitalization, they will realize everything is still very early and there are still many opportunities.

The capitalization of gold has surpassed 15 trillion USD, while the capitalization of bitcoin is only 1.3 trillion USD. Think about what percentage of profit we will achieve if the capitalization of bitcoin is equal to the capitalization of gold in the next 10-20 years? We are still very early in investing in bitcoin.

Definitely not worried about the waiting part, bitcoin surpassing these companies is an inevitable moment so it's just a thing of patience and DCA. It's really not surprising anymore that bitcoin is able to do that because I've had that faith renewed when bitcoin was able to bounce back when it dump when the all-time high price was still around 20k, it was a panic for me at that time but I trusted that it will go back and then it did, a year or two of waiting isn't a big deal anymore, I'm excited for what the next halving does because there's no way that it's going to be repeat history with the new ATH showing before we can even go to the halving.

Bitcoin's title as a digital gold isn't new. Bitcoin has been labeled as such for years already. There was news of BlackRock's Larry Fink calling Bitcoin digital gold, but it wasn't Larry who coined it. But, yeah, if the impression of Bitcoin being a digital gold is spreading among the influential financial players across the globe, it indeed means demand.

But, again, demand doesn't necessarily mean belief. Many who buys Bitcoin doesn't believe in Bitcoin. That includes Fink and the rest of them. So, indeed, it would still be a rollercoaster ride from here on. These actors could quickly dump Bitcoin as soon as they made a profit from it.

Yeah but keep in mind that the higher the market cap goes, the more work it is to get the price to increase. Remeber how easy it was going from $30 to $250 and then to $1000 during 2013? Or how we went from a low of $200 all the way to $20000 within a year and a half.

Now it’s getting more and more difficult. We broke ATH but are stalling and struggling to go higher. This is what happens when market cap is high. At a price of $200, you could get retail to buy maybe 10-50 BTC.  But at a price of $70K most retail can only buy a mere fraction of a coin and hence why it’s going to be a long way to $100K.

Bitcoin will definitely beat gold’s marketcap in the future. All we need is more diamond hands. As long as nobody sells and there is still demand, theoretically the price of a bitcoin can go to infinity. However we know that there will always be some sellers who will create even more pressure on the price as the price goes higher. That’s why every once is a while btc goes into a bear market. So don’t feel bad if btc goes back to $30k’s or even lower soon. If that happens, btc will come back even stronger because more diamond hands will be buying the dip. We have had many price cycles in the past and there will always be more.

That's not even the best that bitcoin can ever get, imagine about 25% of the world's population are into bitcoin or planning to invest in it, the value that we're going to see is going to be astounding and I can't even begin to fathom how high that demand would be, bitcoin's going to be way past the point where it matters what ranking it is in terms of market value against other market or company because they're going to be number 1 and the gap with the 2nd place in ranking is far too wide to matter.

Yes, there's more work but what I can see here is just an opportunity that you won't be missing out for too long in investment because bitcoin will take a long time before it grows, imagine those that are DCAing at a small amounts, they're going to like this the most.

Well thats inevitable I guess we saw the pattern in each cycle that after halving it should do its work. But since this market us upredictable expect the unexpected always. Right now btc is moving up and down for the past few weeks and as we get closer to halving we can see the potential movement of overall market which either can go bullish all the way or have some misfit along the way.

Well, the first step will be to reach and beat silver's capitalization, for which there is $0.2T left, so we are likely to see it this 2024. With that, bitcoin would be the eighth largest market cap asset in the world, and, depending on how the bull market goes, I think it could climb to fourth or fifth place. For those who want to follow up:

https://companiesmarketcap.com/assets-by-market-cap/

In case of bitcoin it kinda does because its supply is real, so is its price. Every single satoshi in circulation was created fairly and through actual "work" aka mining. And the price is decided in the market through demand.
Market cap is mostly meaningless when it comes to altcoins that have fake supply (eg. premined coins) and fake price (eg. pumped and are before dump).

I don't think the reason is market cap being high, at least not the main/biggest reason.
When you are comparing 2013-17 with today you should also compare the economy of 2013-17 with today. We've already had 2 major recessions in the past 5 years and that takes toll on the economy and people's investment habits and capabilities.

For example in 2017 when price soared to $20k in a couple of months people across the globe weren't struggling to make ends meet like today and they weren't struggling to pay back their loans at a much higher interest rate that went up overnight.

Now I believe not only such massive rises (eg. going from $70k to $1 mil in 6 months) is possible but it can be very easy IF the recession ends and they reduce interest rates. Because first of all after interest rates coming down, the extra money people paying back their loans are going to be left with is going to be invested in things like bitcoin. And the money that had gone into the scammy bonds government print is going to exit and flood into other markets including bitcoin. The tsunami of money coming into bitcoin can shoot up the price very easily.

Yes I mean that's a very important aspect of trading. I have seen people losing their whole portfolios just because of these types of small and silly mistakes. Scammers are Everywhere and they'll remain till eternity but what we have to do is to safeguard ourselves from them.

What I would suggest is that we can do a basic mobile security course available all over the internet. This will lead us to the knowledge of how scammers use different techniques to scam people. Once we get the overall picture then we could always apply this knowledge to the particular cases we will face throughout our life.

It takes Bitcoin 15 years to have 19,676,487 BTC in its circulating supply that is 93.7% of its total supply.

Altcoins with Proof of Work can be premined a lot like Ethereum, or can be mint all at the beginning with TGE by smart contracts. Their developers can create an altcoin with very high total supply like Shiba Inu or very low total supply like Shiba Inu with 589,534,086,491,242 SHIB (all minted at TGE) or Yearn Finance YFI with only 36,647 YFI in its total supply.

Market cap with altcoins is useless to assess altcoins.

In 2020, YFI rose to nearly  $40,000 when Bitcoin still did not get its $20,000. It's success of YFI developers but any YFI holders, from 2020 to 2024, will lose money, now it is about $8,400.

https://coinmarketcap.com/currencies/shiba-inu/
https://coinmarketcap.com/currencies/yearn-finance/

Market capitalization over 1 trillion dollars is a solid achievement for Bitcoin, but the number is very transparent, simply being the price multiplied by supply (the amount of BTC currently in existence). It's good to see that it's growing, and it's over $1.4 trillion now, so it gained around 50 billion dollars in less than 2 days. That's a lot of value, but it also shows how hard it is to keep making the price higher and higher, considering the market capitalization requiring so much more money for it to happen than before.

It’s honestly a delight to see bitcoin achieve great things and I can not believe that I am seeing it happen right in front of my eyes.



Exactly as we’ve seen, no one expected for bitcoin to break into its new ath before halving but it did so now we have an idea when should we watch the market carefully and invest.

Every time Bitcoin goes up, big brain analysts say that it means people believe it's digital gold. So if Bitcoin crashes, does that mean people stop believing it's digital gold or what?

What I learned in my almost 8 years in Bitcoin is that so-called analysts just throw lazy explanations for the current trend, because no one cares about actual research. Market participants just want an easy narrative to stir them to buy or sell.

Bitcoin ecosystem today is not different from the ecosystem half a year ago when the price was 3 times lower. This means the price growth is a result of the halvening bull-bear cycle and not people waking up to digital gold.

Several years ago, many of the people here have already said that Bitcoin is the new gold standard and can be described as the digital gold which is now being reported by these folks.

That's why if you've been here for a long time, you know what I am saying that it's been said and treated already as a digital gold even long time before.

Thanks to the most holders out there as we treat our Bitcoins as the digital gold that everyone will not have. Yeah, it's not going to be on the hands of most people because many are still skeptic of buying because before, they're scared of it thinking it was a scam. Now, they're thinking of it as something expensive that they don't want to buy while waiting for its price drop which is unlikely at these moments.

That is definitely a problem but one that we know it was coming, however it comes with its own set of advantages, as bitcoin becomes less volatile then those that are more conservative on their investment strategies will be more willing to invest some money into bitcoin, as now they will not be afraid of the price of bitcoin collapsing from one day to the other as it did on the past, so this change should give us a more stable growth over the years.

Hmm TBH, I haven't checked it I'm not sticking to market all day as I was sticking to it a couple of days before, due to some really urgent affairs but I was following the price action I haven't checked anything surprising but yup hope are still on the Bitcoina nd holding tight to visit a new ATH with the market cap of $2.4T haha in the round 1 and then you know a good correction and boom again but things are not in the favor from the side I was checking on, it may be due to the early pressure on the market.

Marketcap is a weak metric without sufficient market depth. Today it's $1T, in a few months it's $2T, then $0.5T. With stocks it makes sense to talk about marketcap because they don't often lose 80% of their value, and when they do, you know it means something really-really bad.

Also, $1,3T isn't very impressive, it's less than the marketcap of some of the biggest companies, and lower than marketcap of gold and some other commodities. This could mean that there's a lot more room to grow, but it's not a strong argument for it.

Yes, we should already learn our lessons this time. Bitcoin remains unpredictable. It rises when we least expect it. It could also fall when we're expecting it otherwise. But there's also the lesson that if only we stick to hodling, we will reap benefits in the end.

The bullishness that the Bitcoin spot ETF and the upcoming halving bring make us confident that there will be further upward movements soon but it might also not be the case. So while we should be bullish with all the development, if the price falls instead, we can rest assured that hodling would still make everything worth it.

With a market capitalization still so small, it shows that bitcoin still has a lot of potential to grow and a bright future is waiting for it ahead. But there are also risks that come with a fairly small market that can be manipulated or collapse at any time. That's why I always believe that we are still in the early stages and there are still many opportunities, but great opportunities always come with risks.

Bitcoin ETF is a historical milestone for bitcoin to become bigger, but it also cannot guarantee 100% that bitcoin will not encounter any problems in the future. Bitcoin still has risks, so we should still only invest with what we can lose.

Yeah we haven't heard a case where someone claimed to loss their holdings in Bitcoin ETFs, so we don't know how those traditional investors can handle such case. What I think they would blame Bitcoin instead of the company, just like Bitcoin naysayers that keep saying Bitcoin is scam without any reason.

Right now the biggest Bitcoin ETFs i.e. GBTC only have 22.29B market cap, while the biggest ETFs i.e. SPY have 522.78B market cap, I'm sure GBTC will achieve at least 100B market cap. https://stockanalysis.com/etf/

Grayscale have to do a lot with their products internally, cut their service fee to make it more attractive for users and competitive with other Bitcoin Spot ETFs. It is first priority of Grayscale next months because outflows from Grayscale since January 2024 is massive.

If they fail to stop it, they will have no bitcoins and money from customers to manage their Spot ETF and it is first challenge they must solve. If Grayscale stays, we can talk about growth of their GBTC marketcap.

From $23B to $100B is possible but it will be achievable if Grayscale can survive against other Bitcoin Spot ETFs.

this just shows the potential of bitcoin to surpass centralized banking systems for sure now a lot of government agencies are looking at bitcoin and observing its movement. either they would try to regulate it to try to control how bitcoin goes around their country or they would think about most effective ways to start adapting bitcoin.

one thing for sure, we are definitely in for a fun few months as the halving comes nearer and nearer. excitement would be an understatement!

I actually thought that it had no effect at all. Because Bitcoin is different compared to gold, even though many people analogize it as 'digital gold', if we see that Bitcoin was developed not to be 'digital gold' by Satoshi, but as "A Peer-to-Peer Electronic Cash System". But today, people are starting to distort the true purpose of Bitcoin and make it an investment instrument rather than electronic cash, and I see that as a form of weakening of Bitcoin.

This market cap is nothing for Bitcoin. By the way, it's now 1.39 trillion dollars. We are just 10 days away from halving, Bitcoin can indeed go a hell lot higher. But, while Bitcoin's trajectory may be unpredictable, the past history has shown a strong growth in long term, unlike any other traditional assets.

However, I feel that the comparison to the combined market value of the world's largest banks underscores the transformative potential of cryptocurrencies. Additionally, the expectation of a fresh wave of investors drawn to Bitcoin's perceived store of value suggests sustained demand and potentially more pronounced price movements. But at the end of the day, it's a roller-costar ride as we all know. Especially while day trading.

I wouldn't call it distortion but adaptation. Think about it, if bitcoin was not profitable and was only used as a decentralized currency, how many people would be interested in it? Not to mention, if it were used by us to replace fiat money, do you think the government would give us the freedom to use it?

I have also seen many people always complain when bitcoin is not used as a currency but only as an investment. But the funny thing is that those people are also counting on profits from bitcoin, do you expect to make a lot of money from bitcoin or do you just use it as a currency?

Additionally, bitcoin has been considered an investment since its early years, rather than a bitcoin ETF making it an investment. If you want to blame, blame the first people who put bitcoin on the exchange because they turned bitcoin into a speculative asset.

I like how everyone are bullish with Bitcoin but then forget how they bullishness(if there is any word like that) if Bitcoin happen. There is a usual heavy correction of Bitcoin in the day of halving or when 2 days before then. Most of the time, the whales take out their money from the market and watch how the markets behave before they start another bull run and because the correction is usually heavy, they don't like to stay in Bitcoin, prefer to buy at the bottom.


There should never be a comparison of any Bank to Bitcoin because it doesn't even make sense because Bitcoin is for all, no resistance, no middle and anyone  is permissible to buy but banks are restricted to a jurisdiction and all the money in that bank is own and control by some people, if we combine the total market of the banks and compare it with Bitcoin, it will make Bitcoin not making sense because Banks can print more money and more Bitcoin can't be printed because it's prohibited by the protocol to do that, it will remain 21 million total supply.

There is cross relation between banks and Bitcoin.

I agree there are many ways to buy Bitcoin without touching banks but there are many ways you can use to purchase bitcoins with bank-related methods like bank transfer, credit card, debit card and more.

Say Bitcoin does not need banks is not true. I could be wrong by saying Need but Bitcoin and Bank products actually have cross business.

With Bitcoin, we have a better option than Banks, no censorship so far, full control by private keys, better security.

The overall bitcoin market capitalization compared to the sum of all other cryptocurrencies market capitalization is far higher, this alone is a good point in saying that bitcoin is the king of all cryptocurrency, the more reason you will keep seeing people intending to make an investment in bitcoin and not other coin because they see that its the only most recognized and acceptable cryptocurrency for making payments and also serves as an asset of financial investment. 

In fact the Marketcap dominance of Bitcoin drops with time and with market cycles. Bitcoin dominance usually shows its strongest domination during bear markets when most of altcoins lose of 98% or higher of its market caps compare to their highest market caps in bull markets. Many altcoins even die in a bear market but there is an opposite trend in each new bull market. We usually see hundreds and thousands of new altcoins in a new bull market that contribute to decrease of Bitcoin dominance.

Anyway, in bull or bear markets, Bitcoin is always King.

Market historical snapshots (https://coinmarketcap.com/historical/) over years show that many top altcoins died but Bitcoin is there to stay with us.

Bitcoin will still be king and still dominate the cryptocurrency market but we must admit that bitcoin's dominance is decreasing over time. I remember a time when bitcoin's dominance was very high and accounted for more than 80% of the entire market, but in just the past few years, it has gradually decreased and remained at 50%. With the strong growth of the altcoin market in the coming years, I believe bitcoin's dominance will decrease even further as more and more altcoins assert their value.

Many bitcoin maximalists won't like this but this is happening, but I like this because it will create a broader and more diverse market instead of just being centralized and dependent on only 1 thing.