Nov 17, · Bitcoin has just hit a market capitalization of $ billion for the first time ever. The last all-time high was $ billion back in December when Bitcoin was close to $20, The increase in market cap is mostly due to the growth of the circulating supply of Bitcoin. Nov 17, · Bitcoin’s price hit its all-time high, close to $20,, in But the record for the all-time high market cap was $ billion, according to data from Coin Metrics—lower than today. (CoinMarketCap, a rival, puts Bitcoin's all-time high market cap at $ billion). Nov 24, · On Nov. 24, Bitcoin surpassed the $19, price mark for the first time since December , breaking another all-time record in its market cap. At publishing time, Bitcoin’s market cap is $
Bitcoin market cap all time highBitcoin Market Cap Breaks $ Billion—90% of All-time High - Decrypt
A spread of Bitcoin coins. Image: Shutterstock. And now, both figures are closing in on their respective targets. It makes sense that the market cap is a closer figure—and will break its milestone before Bitcoin's price does. This is because a coin's market cap is calculated by multiplying the number of coins and its price. Since Bitcoin's inflation rate produces around , Bitcoin per year half that since the halving , its market cap will continue to rise even if the price is steady.
Bitcoin's share of the cryptocurrency market had been declining in recent months. But Bitcoin's growing market cap has helped to revive its share of the market. Looking at the other coins in the top 10, they are split between those who hit big in and are struggling to return to former highs and those who have broken new ground in and have been seeing new all-time highs.
This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.