Bitcoin's Market Cap Is Now Higher Than These 3 Tech Giants. Can It Still Soar Higher?
Bitcoin (CRYPTO: BTC) has hit record levels in May as the bullishness around the top cryptocurrency remains strong. After sliding earlier this year, during the past three months, it has rallied by about 30%. With a market cap of more than $2.1 trillion (as of May 29), it is far and away the most valuable digital currency. Ethereum, with a market cap of around $320 billion, is a distant second place.The original crypto remains the default option for investors who want exposure to cryptocurrency. Some investors view it as a form of digital gold while others like it for its scarcity, or simply its overall popularity and its rising adoption.But while Bitcoin has soared in value, its market cap has also risen beyond those of many of the best blue chip companies. Is that a sign that it is overvalued and approaching a peak, or is there still room for the cryptocurrency to go even higher?Continue reading
Bitcoin (CRYPTO: BTC) has hit record levels in May as the bullishness around the top cryptocurrency remains strong. After sliding earlier this year, during the past three months, it has rallied by about 30%. With a market cap of more than $2.1 trillion (as of May 29), it is far and away the most valuable digital currency. Ethereum, with a market cap of around $320 billion, is a distant second place.
The original crypto remains the default option for investors who want exposure to cryptocurrency. Some investors view it as a form of digital gold while others like it for its scarcity, or simply its overall popularity and its rising adoption.
But while Bitcoin has soared in value, its market cap has also risen beyond those of many of the best blue chip companies. Is that a sign that it is overvalued and approaching a peak, or is there still room for the cryptocurrency to go even higher?
