Bitcoin to usd market
Dec 19, · For bitcoin's market cap to reach $1 trillion, it would have to hit a price of $54, per coin next year - a % rally from where it's at. As for the US dollar, the researcher expects the world Author: Shalini Nagarajan. Bitcoin USD (BTC-USD) Add to watchlist. CCC - CoinMarketCap. Currency in USD. 23, (%) As of AM GMT. Market open. international market data, social interaction and. Buy Bitcoin. USD Markets. All. Coins. Tokens. Featured Tokens. DeFi Tokens. Exchanges. Gainers and Losers. Market Cap. Market capitalization (often shortened to market cap) is the approximate total value of a cryptocurrency, typically shown in US dollars.
Bitcoin to usd marketBitcoin Price | BTC USD | Chart | Bitcoin US-Dollar | Markets Insider
For these reasons, we still think traders should look for opportunities to buy dips in BTC-USD because could see additional gains relative to current price levels.
In the chart above, we can see that bitcoin bulls are ending the year with a firm control of the market. For tech investors focused on U.
But are investors really aware of these diverging market correlations? In many cases, prominent criticisms of the cryptocurrency space seem to suggest that broad-based demand within the market at large still remains relatively weak. Unfortunately, these criticisms have persisted in spite of the fact that bitcoin valuations have recently reached new record levels and this assessment of market sentiment has the potential to weigh on BTC-USD valuations in cases where this key cryptocurrency pair reached overbought levels.
Obviously, cryptocurrency investors could engage in a lengthy debate about why this may or may not be an accurate description of the broader macroeconomic environment. Additionally, those criticisms seem to indicate that the investors that are actually buying bitcoin and other cryptocurrency assets are part of a unique demographic that is somehow separate and apart from the market majority. In other words, the recent buying activity that has generated short-term gains for BTC-USD traders might be limited in scope because this enthusiasm might never translate into broad-based adoption that is accepted by a majority of global consumers.
However, we have encountered recent examples of major corporate names that are entering into the space and we believe that this activity will help support market valuations in BTC-USD over the next few quarters. According to analysts at JPMorgan , however, these perceptions might now be on the brink of a major change and evidence of this perceived reversal can be found in the latest round of bitcoin investments initiated by Massachusetts Mutual Life Insurance.
Ultimately, this represents a rising rate of bitcoin adoption that could impact public sentiment in ways that are highly bullish for the asset's underlying market valuation. For these reasons, this recent story from Massachusetts Mutual should not be viewed as insignificant because these are the types of the corporate decisions that could open the floodgates for those seeking bitcoin adoption going forward.
In our view, these are also the types of stories that could set cryptocurrency assets on a very firm path toward extended gains in Essentially, recent trends in the U. Dollar Index have shown a massive reversal after hitting spike highs in March and a continued deterioration in this key benchmark for global markets could easily create an additional factor that boosts sentiment with respect to the major cryptocurrencies.
In our view, the recent surge in M2 money supply in the United States is likely to work as the most important fundamental factor influencing valuations in the greenback over the next few quarters. As more money is pumped into the market, we expect the U. The exchange saw a broadening of adoption and ownership of crypto assets this year as more people continued to want in on acquiring the token.
As many as million people own crypto assets today, according to Hileman. He noticed a lot of the recent price action was driven by institutional investors, based on transactions that occur on the chain, and is unlike the retail investor frenzy of On-chain demand and other metrics suggest that the rally was driven more by institutional hedge funds, family offices, and money managers.
Hileman expects to see continued buy-in from retail and Wall Street investors going forward, rather than corporates. That's because it is harder for bigger players to participate than professional investors who already have accounts and easy access to major exchanges, he explained.
As for the US dollar, the researcher expects the world's most popular reserve currency to be digitized sometime in the next five years.
The status quo is working well for the dollar because it is dominant through the SWIFT mechanism and the corresponding banking system, he said. The US government can also raise debt at attractive interest rates, supporting the dollar's status. But a competitive challenge lies in the crypto space and in the rise of stablecoins. Shalini Nagarajan.