This happened against the backdrop of an increase in the price of the asset

BTC capitalization has exceeded $1 trillion for the first time since December 2021

14.02.2024 - 14:38

64

2 min

What’s new? On February 14, bitcoin’s market capitalization surpassed the $1 trillion mark for the first time since December 2021, according to data from the CoinGecko aggregator. This happened against the backdrop of an increase in the price of the asset. On February 13, the value of BTC fell to $48 300, but the next day began to grow and overcame the $51 000 mark. The total market capitalization of digital assets reached $2 trillion. As of 11:35 UTC, bitcoin is trading at $51 329 on Binance, having added 2,88% over the day and 19,9% over the week.

CoinGecko’s data

What else is known? Earlier, analysts at IntoTheBlock noted that in the coming weeks, the price of bitcoin could reach the $52 000 mark. At the same time, they warned that before that, the asset would face an important resistance level, $48 500.

About the temporary correction of bitcoin warned also analyst Ali Martinez and CryptoQuant CEO Ki Young Ju. Experts associated it with the growth of the 30-day ratio of the market value of the asset to the realized value (MVRV).

Reuters: Peter Thiel’s fund invests $200 million in BTC and ETH ahead of the rally

Reuters: Peter Thiel’s fund invests $200 million in BTC and ETH ahead of the rally

The investment was split equally between the two digital assets

Read more

In January, SkyBridge Capital CEO Anthony Scaramucci said that bitcoin’s exchange rate would jump to at least $170 000 after the halving, and in the long term, the coin’s capitalization could reach half the capitalization of gold.

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy