BTC market cap is now $40,000,000,000

[the_poet]

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[Richard Branson]

Marketcap= indicator of nothing 

[the_poet]

Marketcap= indicator of nothing 

Market cap = total number of coins in circulation x coin price. So coin price is indicator of nothing?

[blade87]

Meaning, it's still only worth a fraction of what a tech giant is. (~500B range)

[the_poet]

Meaning, it's still only worth a fraction of what a tech giant is. (~500B range)

Yes, btc is still worth a fraction of its true potential. Cap is the only number you have to compare it to giants.

[gentlemand]

Yes, btc is still worth a fraction of its true potential. Cap is the only number you have to compare it to giants.

I suppose ultimately it isn't any different than a tech giant valuation, try selling every single Apple share and see where the price finishes up, but I do wish there was another way of doing it.

There are degrees of silliness to it, especially when it comes to alts.

[afbitcoins]

Its not an indicator of nothing it is best way to compare different cryptos because knowing the price alone tells you almost nothing without also knowing how many there are.

Maybe its misnamed, its not good for comparison of crypto to companies

[cryp24x]

It will keep on rising!  See how people panic buys bitcoin.  In just a couple of day, bitcoin reach $2400 and soon $3000.  Well, some exchanges already selling above $3000.  Probably we will see $80,000,000,000 BTC market cap at the end of the year.

[DustyRah]

Rather than give everyone a headache reading through the zeros, could you not simply have said $40 Billion?

[batang_bitcoin]

Marketcap= indicator of nothing 

You sure about it? Market cap is basis of the price today and that's why we are enjoying the current price of bitcoin and those time to come. And this is just another success for bitcoin for hitting 40 billion of investments in dollars. For the next years there will be more to come so don't say that it is an indicator of nothing.

[EcuaMobi]

Meaning, it's still only worth a fraction of what a tech giant is. (~500B range)

Yes, btc is still worth a fraction of its true potential. Cap is the only number you have to compare it to giants.

I agree completely. The price of a single coin doesn't say much.
1 bitcoin is very close to reaching twice the price of gold. Except "the price of gold" depends on how much gold. 1oz is just an arbitrary fraction and even 1 BTC is.

We should compare the market cap of BTC with all giants, including (the total market cap of) gold: $40billions vs $7.5trillions. It's still very far away and can grow a lot more in several years.

[Karpeles]

Meaning, it's still only worth a fraction of what a tech giant is. (~500B range)

except the fact the market value of a tech giant and the market cap of Bitcoin, as defined as number of coins mined x price, have nothing in common and shouldn't be compared.

it is like comparing your weight with someone else's balance in the bank account, they have nothing in common.

[pooya87]

Its not an indicator of nothing it is best way to compare different cryptos because knowing the price alone tells you almost nothing without also knowing how many there are.

Maybe its misnamed, its not good for comparison of crypto to companies

it actually is indicator of NOTHING. at the very least it is the worst way to compare different cryptos because with altcoins you don't ever know what their circulating supply is. a random altcoin can easily report having billions of coins but in fact have 1 or 2 million coins in circulation and that billions of coin supply creates a fake big marketcap which indicates nothing about it

[posternat]

Meaning, it's still only worth a fraction of what a tech giant is. (~500B range)

Yes, btc is still worth a fraction of its true potential. Cap is the only number you have to compare it to giants.

I agree completely. The price of a single coin doesn't say much.
1 bitcoin is very close to reaching twice the price of gold. Except "the price of gold" depends on how much gold. 1oz is just an arbitrary fraction and even 1 BTC is.

We should compare the market cap of BTC with all giants, including (the total market cap of) gold: $40billions vs $7.5trillions. It's still very far away and can grow a lot more in several years.

Bitcoin market cap cannot be compared to Gold market gap. There is a high difference between the two. But then you should know Bitcoin has been there for less than a decade and Gold is there for more than a century, so both of their volume could not be compared or match. One thing here is sure if Bitcoin is given a time of one hundred years, it will way pass the 7.5 trillion dollar mark.

[canvan]

I'm not worried about the high marketcap as much as I am by the speed of increase, to me that is true signs of a bubble. I mean bitcoin can get to 100k$ and I wouldn't call it a bubble if it rose organically rather than the current pump we are seeing.

[cryptodontus]

Its not an indicator of nothing it is best way to compare different cryptos because knowing the price alone tells you almost nothing without also knowing how many there are.

Maybe its misnamed, its not good for comparison of crypto to companies

it actually is indicator of NOTHING. at the very least it is the worst way to compare different cryptos because with altcoins you don't ever know what their circulating supply is. a random altcoin can easily report having billions of coins but in fact have 1 or 2 million coins in circulation and that billions of coin supply creates a fake big marketcap which indicates nothing about it

I wouldn't say it indicates nothing. It usually indicates nothing good! I think the ratio of circulation to supply is a great indicator of dumping potential (usually applied to a newer coin) and simultaneously yet inversely, perceived value (typically for something more mature). By perceived value I mean hodling value, of course.


But comparing market caps alone is worthless at best. Comparing market cap to corporate valuations is fun but also apples to oranges.

Organic behavior will always defy any attempt to simplify. Until you apply this statement to itself. Welcome to the rabbit hole.

[TravelMug]

I'm not worried about the high marketcap as much as I am by the speed of increase, to me that is true signs of a bubble. I mean bitcoin can get to 100k$ and I wouldn't call it a bubble if it rose organically rather than the current pump we are seeing.

For me its not a bubble but countries like Japan, Korea, China and India are buying a lot of bitcoins now that why the price doesn't look like organic. Take note, that a whole country now is buying, not just individual investors who are just pumping it up like we seen before.

[desertxp]

$3000 by the end of the day

[sayyedraza]

$3000 by the end of the day

can any one explain why bitcoin bullish 
What happened to it ??

[1Referee]

It's perhaps cool and exciting to certain people, but it's still peanuts in my eyes. I will start to make a small jump of celebration if we happen to hit the $10,000 mark per coin. Bitcoin is just doing what I expected from it since the very beginning, but in a faster way. Eventually people will look back at current levels and regret not having bought more coins, or regret that they have sold their coins at current levels. It's a cycle -> people selling -> price goes up -> people regret having sold.