The market capitalization of the cryptocurrency is far beyond the $2 trillion line as patience pays off
The market capitalization of the cryptocurrency is far beyond the $2 trillion line as patience pays off Today, the crypto space can withstand not only the stress test of Elon Musk, but also what happened in May of this year, when almost $1 trillion were erased from the value of five cryptocurrencies.
Mass involvement occurred back in May, in the equivalent of digital assets from the time of the gold rush. A large number of analytical and educated people switched to cryptocurrency when it fell, calmly believing that it would grow again.
And they were right. Today, the united cryptocurrency market is beyond the $2 trillion capitalization mark, demonstrating a complete recovery in the sense that it almost reached its value before Elon Musk.
Analysts of some large financial data companies said today that it is quite possible that the price increase would have been even higher if not for the ongoing discussions in the US Senate on tax decisions and possible regulation.
One of the byproducts of the price growth of the main cryptocurrencies is that bitcoin whales have started to earn.
In fact, according to Coinmarketrate.com, the price of Bitcoin has increased by 57% from a low of $29,800 in July, recently reaching a high of $46,800. Now some of the very large investors who have accumulated more BTC over the past few months and are biding their time, it seems, have started to take profits, which is perfectly visible on resources such as BIT.TEAM and WALLBTC.
The behavioral analytics platform Santiment has shown that addresses from 100 to 10,000 BTC have significantly reduced their stocks, and over the past four days. These whales have sold more than 40,000 BTC worth about $2.07 billion.
This is a clear case where astute investors remained patient during times of lower prices and used this period as an opportunity to accumulate more Bitcoins while values were falling. During recent periods of rising value, whales usually held on to their possessions, and then, after a recent rise to almost May levels, they began to sell.
Crypto Market Opportunities
If you analyze the market from the logic point of view, this is a clear case where mature investors know how to wait and watch for volatility until it works in their favor.
Some investors and analysts look at the cryptocurrency trading market as a market with some desired degree of volatility, and that if more regulation is introduced, the volatility will probably slow down a little, but will not disappear completely.
Thus, it is encouraging that Bitcoin and other leading cryptocurrency assets are likely to always be an interesting asset class to trade due to their more volatile value than traditional assets. And in a regulated environment, there will be stricter controls and rules, but still enough freedom and decentralized perfection to be able to reap the benefits of technological advantages and the benefits of market fluctuations.
Maturity in this case means equal levels of entrepreneurship and self-determination, in a well-proven reliable and profitable cryptocurrency market.
More — https://coinmarketrate.com/