[2017-10-30] Bitcoin's Market Cap Surges Past $100 Billion

[ivanpoldark]

Another day. Another record for bitcoin.

The most widely used digital currency will now cost you about $6,125 apiece after blowing past the $5,000 and $6,000 price levels for the first time earlier this month. Bitcoin’s total value is just over $100 billion, meaning it makes up more than half of the overall cryptocurrency market. 



Cryptocurrency prices have been unfazed by recent regulatory crackdowns across the world and skepticism from Wall Street stalwarts including Warren Buffett and JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon. More than $3 billion has poured into initial coin offerings this year despite warnings from the U.S. Securities and Exchange Commission and other government watchdogs.

https://www.bloomberg.com/news/articles/2017-10-30/bitcoin-passes-more-milestones-as-market-cap-tops-100-billion

[1715055937]

1715055937

[aso118]

This isn't really new. The market capitalization surged past $100 Bn last week itself, when Bitcoin crossed $6000 for the first time.
Looks like Bitcoin is getting ready to make the next move upwards. 

[icomap24]

A good article: "4 Trends That Show Bitcoin and Ethereum Are Getting Ready for the Mass Market"
1. Steady traffic growth.
2. Consumer-friendly applications.
3. Increased public awareness.
4. Industry-wide growth.
More information: https://www.inc.com/melissa-thompson/4-trends-that-show-bitcoin-ethereum-are-getting-ready-for-mass-market.html?utm_campaign=crowdfire&utm_content=crowdfire&utm_medium=social&utm_source=twitter#849965057123512321-tw#1509007031211

[LuanX3]

I think this is totally inevitable, it will happen because there is really no way bitcoins will only be valued at this level. I do believe that McAFee's prediction is going to be true. $500,000 is looking like something plausible at this point. If it does reach that level then we're looking at 10 trillion as its marketcap. It'll be glorious to see that in the future, as of now, I'm hopeful this is the future.

[richardsNY]

Do we really need another article explicitly stating that we went through the $100 billion market cap, again? Yes again. It's basically similar to what happened with Bitcoin being worth more than gold. Bitcoin first reached gold parity in terms of the latest exchange rate, where a while later articles popped up that Bitcoin is worth twice as much as gold. At some point you must understand that even though Bitcoin is reaching a new high, that you shouldn't directly jump on it and cover it like it's breaking news. It seems that they don't care and just release whatever they can, and that whenever they want -- low quality content is the result.

[1Referee]

It's basically similar to what happened with Bitcoin being worth more than gold. Bitcoin first reached gold parity in terms of the latest exchange rate, where a while later articles popped up that Bitcoin is worth twice as much as gold.

I get really annoyed by articles proudly sharing that Bitcoin has surpassed Gold in value. How can a crypto article writer even say that Bitcoin has surpassed Gold in value when 1) they use Gold's troy ounce (31.1GR) value versus Bitcoin's whole unit (1BTC) value, and 2) Bitcoin's market cap is a complete joke compared to Gold's market cap. It's an unfair comparison in basically each and every aspect. They should wait for Bitcoin to at least surpass Gold's 1KG price before pumping more rubbish articles into the net.

It seems that they don't care and just release whatever they can, and that whenever they want -- low quality content is the result.

That. It has even gone so far, that I seem to add more value to reddit as 'news' source, than these garbage sites that constantly push annoying ads in your face.