CandleFocus

Bitcoin is now exactly half the size of Nvidia in market value – What’s happening?

Bitcoin's market capitalization has now exceeded $1.8 trillion, making it the seventh-largest asset globally. It has overtaken giants like Saudi Aramco and silver. The cryptocurrency has experienced unprecedented inflows since Election Day, with investors flocking to the market at record levels. The recent US elections have led to a political shift, with 50 out of 58 pro-crypto candidates winning their races, suggesting favorable regulatory policies in the future. Bitcoin ETFs, along with crypto-related stocks like Coinbase and MicroStrategy, saw $38 billion in trading volume on a single day. Technical factors and market sentiment are fueling Bitcoin's ascent, and some analysts predict it could reach $100,000 this week. However, Bitcoin still remains smaller than gold in market value, but the gap is closing. Market watchers wonder if Bitcoin could eventually surpass all public companies in market value.

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