Bitcoin jumps above $27,000, almost becoming the tenth largest in the world already.
Bitcoin (BTC) continues to climb unstoppably over the Christmas weekend, surpassing the 27,000 US dollar mark today, December 27. This means that the market capitalization of the cryptocurrency cracks half a trillion US dollars for the first time.
Bitcoin cracks 500 billion US dollars
The new record high comes just three days after the resistance at 24,000 US dollars was overcome. Accordingly, the Bitcoin price has thus doubled in the last two months, with almost 10,000 US dollars made plus in December alone.
Bitcoin’s market capitalization has risen to more than 510 billion US dollars as a result of the recent jump, which already makes the cryptocurrency almost as valuable as the holding company Berkshire Hathaway, which is owned by investment guru Warren Buffett and is the tenth largest company in the world. Yesterday, Bitcoin was already able to leave behind its major „competitor“ and payment service provider Visa.
Moreover, at the current price level, Bitcoin Billionaire Review is above the calculated average of the popular Stock-To-Flow (S2F) forecast model, which predicts the price to rise to $100,000 by December 2021. The market-leading cryptocurrency is thus clearly on target on this path.
The current soaring price seems to be far more sustainable than the record run of 2017, because crypto experts assume that it will continue to rise in the coming months. The decisive reasons for this are the continuing interest of institutional investors, strong fundamentals, a declining supply on crypto exchanges and the still low interest of private investors. As can be seen from Google searches for Bitcoin (see below), the hype around the cryptocurrency is still not quite as strong as in 2017 despite new record highs, which is why there is still a lot of room for improvement once the flight to the heights becomes mainstream.