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Author Topic: [2017-11-27]$300 Billion:Bitcoin Price Boosts Crypto Market Value to Record High  (Read 1346 times)
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November 27, 2017, 03:16:05 AM

Hot air balloon image] via Shutterstock

The total market capitalization for the cryptocurrency market has exceeded $300 billion for the first time.

Data from shows that the market capitalization for all cryptocurrencies is currently at roughly $301.5bn. Of that amount, bitcoin's market cap represents the lion's share, accounting for about $160 billion.

The move comes as the price of bitcoin continues its surge above $9,000, trading at roughly $9,592, according to the CoinDesk Bitcoin Price Index (BPI).

The push above $300 billion perhaps also showcases the pace at which the market has grown in recent weeks. On Nov. 3rd, the overall market capitalization rose above $200 billion for the first time. By contrast, the market crossed the $100 billion level back in June.

Other cryptocurrency market developments contributed to today's market capitalization milestone, additional data reveals.

The world's second-largest cryptocurrency, ethereum, has a press-time market capitalization of $46 billion and is currently trading at about $475, representing a price increase of more than 25% in the past week. Like bitcoin, ethereum also hit a new all-time high over the weekend.


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November 27, 2017, 07:08:53 AM

People always talking about how bitcoin keep gaining more and more value over time, but surely there are so many predictions about bitcoin will reach $10K, $15K, $20K and even $50K, is it impossible? Only time will reveal the truth, but I'm sure bitcoin could reach $50,000 maybe in 3-4 years later if bitcoin price could gaining value just like in this year, over 800%.
$300 billion marketcap means nothing without worldwide acceptance and being used as a medium of exchange, where people can easily spend bitcoin at stores, merchants or paying bills in daily basis.

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