Market capitalization of crypto approaches forex market capitalization

[Zilon]

Crypto market capitalization is currently $2trilliion gradually trying to meet up with the market capitalization of the forex market worth over $6.6 triiiion and still counting. What a great avenue to generate passive income at your own convinence.

With more investors and traders trooping the market on a daily basis we should however be expecting an increase in market capitalization yielding a digital oil block for the general masses to partake of.  Bitcoin alone has a market capitalization of over $1 trillion taking half of the total market capitalization of the crypto market.

Many companies and some cities has accepted crypto currency as a means of exchange both for goods bought and services rendered thereby increasing the use of Bitcoin across the globe. This inverably should be a call to others who are yet to take advantage of this new era of digital currency world. More opportunities are been made available as the day goes by.

We are gradually moving into a new century where a new exchange mechanism would be put in place for global exchange of commodities. The best time to acquire a coin is now. We have moved passed different eras of exchange. Ranging from trade by later,cowries, metal coin, paper money , and we are gradually moving into a complete  digital era of exchange where most physical exchange will not be replaced by digital currency.

Getting educated on crypto trading, mining and cryptography could be another beautiful way of joining the train of crypto earners around the globe. Causing more spike and adding even more volatility to the market at large. Decentralized currency has come to take over the order of the century and it's gradually replacing our previous format of wealth accumulation across the globe.

Wills are gradually changing from. Documents and landed investments to private key , email addresses and password, username and password and other digital formats of saving valueables. This has reduced the general revenue generated by our commercial banks. It would be wiser if bankers would size this opportunity to learn more about crypto and start investing because many might be relieved of their jobs .

[RapTarX]

When you compare bitcoin with other maketplace, you must have account time to reach in $1 trillion marketcap. A few days ago, I have seen an an image comparing BTC with other comodities, BTC growth was the highest. Nevertheless, would love to see some comparable images.

[Zilon]

When you compare bitcoin with other maketplace, you must have account time to reach in $1 trillion marketcap. A few days ago, I have seen an an image comparing BTC with other comodities, BTC growth was the highest. Nevertheless, would love to see some comparable images.

I only limited my comparism to forex market which shares similar trading strategy and analysis. Both fundamental analysis and technical analysis can be carried out on both market

[Harlot]

We are gradually moving into a new century where a new exchange mechanism would be put in place for global exchange of commodities. The best time to acquire a coin is now.

I would be careful recommending a buy/sell recommendation just because the market cap of the crypto market has risen to a certain level, it doesn't really make sense for the newbies and they might think that this is the "perfect opportunity" for them to jump in when the truth is buying cryptocurrencies now is a risky thing when the prices have already gone up and they won't be having any margin of safety with their position. Majority of cryptocurrencies are now consolidating near their ATH and there is really no guarantee for them to earn anything at this point.

[odolvlobo]

Crypto market capitalization is currently $2trilliion gradually trying to meet up with the daily volume market capitalization of the forex market worth over $6.6 triiiion and still counting.

FTFY

You are comparing apples to oranges.

The cryptocurrency market capitalization (the hypothetical sum of the values of all cryptocurrencies) is about $2 trillion. However, the daily volume of the forex is market is $6.6 trillion. Market cap and daily volume are not the same things.

The daily volume of the cryptocurrency markets (according to coinmarketcap.com) is $0.14 trillion, which is about 7% of the forex daily volume.

[Poker Player]

Crypto market capitalization is currently $2trilliion gradually trying to meet up with the daily volume market capitalization of the forex market worth over $6.6 triiiion and still counting.

FTFY

You are comparing apples to oranges.

The cryptocurrency market capitalization (the hypothetical sum of the values of all cryptocurrencies) is about $2 trillion. However, the daily volume of the forex is market is $6.6 trillion. Market cap and daily volume are not the same things.

The daily volume of the cryptocurrency markets (according to coinmarketcap.com) is $0.14 billion, which is less than ¹/₁₄th of the forex daily volume.

LOL. Yes. Moreover, there is no market cap as such in the forex market, but if we want to compare to market cap we could use the global forex trading market.  It is somewhere between $1,934 trillion and $2409 trillion, depending on the source.

[pooya87]

There is also a big difference between Forex market cap and altcoin market caps. Every single fiat currency that is traded in Foreign Exchange market are real and have real circulating supply that was printed and controlled by law of that country, while majority of altcoins have fake supplies that are never entering circulation many of which printed out of thin air as premine even for top shitcoins such as ETH and XRP which makes their market cap fake.

[tranthidung]

With the hyper inflation of cryptocurrencies, you can not use it total marketcap in a bull run to conclude anything.

• Total cryptocurrencies are increasing, everyday
• New cryptocurrencies contribute too much cap for the total marketcap. New projects are overvalued and you can not judge their quality, values with their caps

If you want to conclude anything about growth, look at the Min as Yearly lowest price of bitcoin. I would rather use it than the Yearly Highest Price. For bitcoin, it is on uptrend. Ups, downs, corrections, bubbles, the yearly lowest price of bitcoin is in an uptrend.

The same can be done for total marketcap and with bear market, you will see how the market has been grown. Shit projects now are contributing too much caps but in bear market, they contribute 0.

[Lucius]

...while majority of altcoins have fake supplies that are never entering circulation many of which printed out of thin air as premine even for top shitcoins such as ETH and XRP which makes their market cap fake.

If you only got 100 satoshi every time you tried to explain the crypto market cap to someone, you would surely be a rich man today

It is clear to all of us that people have a tendency to play with numbers, and that they are particularly fascinated by large numbers - but if I asked 100 ordinary people on the street to define a trillion as a number, I believe most would not know how to do it. If anything can be manipulated in the crypto world, it's the market cap, and with all those shitcoins sprouting like mushrooms after rain, I'm actually surprised that the figure isn't more than just $2 trillion.