Bitcoin proves itself to be the one right thing for digital-asset enthusiasts during the sudden resurgence in cryptocurrency prices, while currently, the bulls are trading at a price above $8000 in the cryptomarket. Today, Bitcoin value is as equivalent as a phase in the Bull Run of 2017.
Market Capitalization is an essential variable for the cryptocurrencies to rank and have a position in the cryptomarket. It takes into consideration two factors, i.e. Total Circulating Supply, Price of the coin, and their product.
Bitcoin, as on 13th May at 11:13 UTC has been trading a little above than the $7000 price mark with a market capitalization of around $125 billion. The 24h volume is 24,726,552,367 USD with a circulating supply of 17,697,775 BTC. As per the data records of the then similar movements, it is observed that the trading volume now is almost six times more than it was in 2017.
The movements during both the times are precisely similar without facing a sharp volatility that can retrace their footsteps while surging.
Important to highlight, Bitcoin over the weekend gained a considerable number of investors since it went as high as $7500 making it a radiant weekend for the investors and their investment portfolios.
Bitcoin lovers and huge investors who have a vested interest have traded around 100,000 Bitcoins over the weekend, with a total value of some 670 million dollars. Most of the investors have been moving their holdings out of significant cryptocurrency exchanges, with just a few of the biggest transactions over the weekend involving cryptocurrency wallets moving Bitcoin to an exchange.
Disclosure: Opportunistic fraudsters are taking advantage of this market, offering investments in cryptocurrencies and doing everything they can to defraud unsuspecting victims, Anyone who invests in cryptocurrencies should thoroughly research the company they are choosing to invest with to avoid scams.
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