#Bitcoin #Blockchain #Cryptocurrency #Gold #Apple # Assets # Silver #NVidia
Bitcoin has shown rapid growth in recent days, and in terms of market capitalization is already among the top 10 most expensive assets in the world.
- The most expensive asset is Gold, with a market capitalization of $13.3 trillion.
- In second place is Apple with a market cap. of $2.6trillion
- In third place is Microsoft corporation with a market capitalization of $2.2 trillion.
- It is followed by Saudi Aramco and Silver, 4 ($1.9 trillion) and 5 ($1.5 trillion), respectively.
Alphabet, Amazon Berkshire Hathaway, Nvidia and Bitcoin are the next 5 most expensive assets in the top 10.
Bitcoin had a market capitalization of $587B
The value of Bitcoin reached over 30 thousand dollars, and the price rose by more than 10% during the week.
Experts believe that the rapid growth of the first cryptocurrency was caused by the whales, that is, the largest investors in the crypto market.
Indeed, over the past 10 months, the whales have carried out 11 major transactions, the amount of which reached $655 million.
6,000 bitcoins were bought in 3 transactions for $180 million, and 16,000 coins in 8 transactions.
Some market analysts believe that the Bitcoin price can grow up to $1 million, given the rate at which the digital economy in the world is growing.
If Bitcoin has a 2.5% to 6.5% share in large investors’ portfolios, it could lead the first cryptocurrency to its projected price.
Many investors believe it is too late to invest in Bitcoin at this stage. However, Ark Invest expert Yassin Elmanjra believes that this is not the case at all, noting that when the market experienced strong volatility, Bitcoin remained stable.
The expert also demonstrated, citing Bitcoin’s history of ups and downs, the very real possibility of the digital currency rising to $1million.
"It is likely that over the next decade, the digital economy will become the core of all economic activity," Elmanjra said.
Bitcoin is currently trading at $30,266.94
BTC 1 Month Chart. Source: CoinDesk
The rise in the price above $30,000 is on hold for now, the price began to fall on Sunday and reached a level of $29,292, then corrected slightly.
In the past week, the price of Bitcoin was lifted by investors above $30,000, which was almost an 11-month high. Analysts are potentially predicting a consolidation of the cryptocurrency before an uptrend, as indicated by the stochastic RSI and Relative Strength Index indicators.
BTC 1 Week Chart. Source: CoinDesk
However, we should not forget that cryptocurrency has a negative correlation with the dollar index. This correlation has weakened slightly since the beginning of the year, but it still exists.
Major investors, including analysts at Bank of America, are set to raise the price of bitcoin, according to the survey and expect the rise in value to $100,000.
Ark Invest analysts have calculated that by 2030, the likely price of Bitcoin will be $1.36 million.
In the short term, K33 experts expect Bitcoin to rise to $45,000 by the end of next month. Experts noted that the current situation is very similar to the volatility of digital gold three to four years ago.
“It is unlikely that the current situation will duplicate the past situation, but with the extension of the fractal you can expect the price at $45,000 by the end of May this year,” argue in K33.
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