As Correction Deepens Bitcoin Cap back below $1 Trillion.

As Correction Deepens Bitcoin Cap back below $1 Trillion.

Over the past seven days, an estimated amount of $140 billion has exited Bitcoin market.

The market capitalization dropped back below $1 trillion due to daily red candle being formed by Bitcoin.

By March, 13, prices are already down at 12.5% from their-all time high of $60,000 and which is premised on the third major correction in the current bull market.

In the last seven days, the BTC dropped to $140 billion but according to CoinGecko, the current market capitalization of BTC market us at $980 billion.

However the current market capitalization of bitcoin was predicted by Willy Woo an analyst and which he opined that the current market capitalization will not fall back again.

In his words:

“$1T is already strongly supported by investors. I’d say there’s a fair chance we’ll never see Bitcoin below $1T again.”

Falling back below a trillion dollars after four days its cap market first surpassed a trillion dollars.

The total market capitalization for the entire crypto ecosystem is currently $1.65 trillion according to CoinGecko. It has fallen by 9.8%, or $180 billion since Monday, March 22.

Profit taking could be a big factor in this pullback, as suggested by analyst Josh Rager who stated that unrealized profits are not realized until they are in the bank.

Be the first to comment

Leave a Reply

Your email address will not be published.