But how do these values hold up in the larger context? It seems people making strange calls don’t care about this issue. So we decided to respond to it today. Based on data from the World Federation of Exchanges (which includes all important exchanges with more than 58,000 companies), the market capitalization is $122.94 trillion.
The current market capitalization of all cryptocurrencies is just over a trillion dollars; At its peak, the market capitalization was $3.09 trillion. The current offer of Bitcoin Approximately 19147,400 units. Meanwhile, the show for Ethereum About 122,323,191 units and XRP around 49,826,021,773 units.
Now let’s consider the current valuation and offer of cryptocurrency.
BTC – Approximate units = 19.147.400
ETH – Approximate units = 122,323,191
XRP – Approximate units = 49,826,021,773
BTC – Current market value (approximate) = 411 billions . American dollar
ETH – current (approximate) market value = 214 billions . American dollar
XRP – Current Market Cap (Approx) = 17.6 billions . American dollar
Combined, these three cryptocurrencies account for more than 50% of the cryptocurrency market capitalization (entirely). But what would its market capitalization be if forecasts of rising valuations came true?
BTC $100,000 = 19147,400 x 100,000 = 1.91 tr . American dollar
BTC $200,000 = 19147,400 x 200,000 = 3.82 tr . American dollar
BTC $500,000 = 19147,400 x 500,000 = 9.57 tr . American dollar
ETH at $10,000 = 122323191 x 10000 = 1.22 tr . American dollar
ETH at $20,000 = 122323191 x 20000 = 2.44 tr . American dollar
XRP at $100 = 49826.021.773 x 100 = 4.98 tr . American dollar
XRP at $1,000 = 49,826,021,773 x 1,000 = 49.8 tr . American dollar
After the calculation, it becomes clear that at 500 thousand US dollars Bitcoin Will the entire market capitalization be more than $8 trillion higher (when just taking into account the increase in BTC ). This represents almost an 800% increase for the entire cryptocurrency market (not including an increase in 20,000 other cryptocurrencies). with Ethereum At $10,000, the market cap will grow by another trillion dollars, which again is not a small number; Moreover, a price of 20,000 will double this figure. Finally, in the case of XRP at $100, the market capitalization (relative to XRP alone) would be $4.98 trillion (which is already several times higher than the current market cap of BTC ). At $1,000, the market capitalization of XRP would be around $49.8 trillion.
It doesn’t take much common sense to realize that these valuations are huge, especially when compared to the value of the global stock market based on data from the World Federation of Exchanges. In our opinion, these and many similar predictions about the cryptocurrency turning upwards and continuing to rise are doomed to fail. Our views are based on the fundamental and technical factors described in the previous and accompanying articles. Thus, we have left Bitcoin And they held our $17,500 and $15,000 price targets.on me
The image shows the total market cap of the cryptocurrency falling by 66% from ATH.
Technical analysis – daily time frame
And the he is . But they became exaggerated very quickly. neutral. DM + and DM- are . In general, the daily time frame is neutral / somewhat .
The illustration shows 1.02 simple BTCUSD . It will strengthen the breakout above the immediate resistance case for BTC in the short term. However, we stick to us prospects further.levels for
Technical Analysis – Weekly Time Frame
And the And the neutral / somewhat . DM + and DM- stay . In general, the weekly time frame is neutral.
You are welcome to express your thoughts and ideas in the comment field.
Disclaimer: This analysis is not intended to encourage the purchase or sale of any particular security. Moreover, it should not be a basis for any trading action to be taken by an individual investor. Therefore, your due diligence before entering into a deal is highly recommended.