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The market value of cryptocurrencies exceeded $ 2 trillion for the first time

The market value of cryptocurrencies exceeded $ 2 trillion for the first time

The market value of cryptocurrencies crossed the $ 2 trillion mark yesterday. Much of this significant growth has been driven by rising prices for bitcoin, atrium and other altcoins since the beginning of 2021. Now the total value of this market is equal to the value of Apple, the second most valuable company in the world after the Saudi oil company Aramco.

This achievement in circumstances Achieved The market value of digital currencies first exceeded $ 1 trillion on January 7th. At that time, bitcoin was trading at around $ 33,000. In recent times, several stimuli have led to significant growth in Bitcoin and Atrium, and new price records have been set for these cryptocurrencies.

Large financial services companies such as People and Visa have begun supporting cryptocurrencies, and Bitcoin has pioneered the movement of other digital currencies. Bitcoin underwent several short-term correction trends in 2021, but for about a month now, its price has remained above $ 50,000 and has fluctuated less than other altcoins.

Bitcoin price fluctuations index

In fact, the bitcoin fluctuation intensity has reached its lowest level since November 2020, as we have been witnessing a stabilization of the price around 55 to 60 thousand dollars for some time. But on the other hand, the price of Atrium broke the previous ceiling by exceeding $ 2,000 and set a new record.

Rekt Capital, a well-known cryptocurrency market trader, tweeted that Atrium’s significant growth seems to have been driven by the stabilization of the bitcoin price below $ 60,000:

“Bitcoin is still stabilizing below this price range. The same stabilization process helped Atrium break its price ceiling record. Atrium is arguably the biggest cryptocurrency on the market right now, and Bitcoin is trying to make up for that backlog. A good sign is limited orange resistance [در تصویر زیر] “It is difficult to stop the growth of bitcoin.”

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Cryptocurrency market investors are generally optimistic about the short and medium term future of the digital currency market. “Jonathan Habibat, a consultant at Moonrock Capital, says:

“I know a lot of people who are looking forward to increasing investment in bitcoin, atrium and other large altcoins in reform, and there are many of them. “The bear market will not be seen in the near future.”

As long as the price of Atrium to Bitcoin remains in its current state and Bitcoin does not fall sharply, the short-term outlook for the cryptocurrency market for April and summer will be positive.

The CoinBase exchange will soon be available to the public through the Nasdaq Stock Exchange, which could increase demand for cryptocurrencies as investors in traditional markets flock to the market. On the other hand, some analysts believe that the initial public offering of CoinBase could fluctuate if it does not put pressure on sales, because the date of this event is associated with the expiration date of Bitcoin options contracts.

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