Bitcoin accelerates toward $1T market cap as price hits new all-time high

Bitcoin (BTC) hit yet another all-time high on Feb. 19 as the largest cryptocurrency set its sights on becoming a trillion-dollar asset.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

nother day, another Bitcoin record

Data from Cointelegraph Markets and Tradingview showed BTC/USD reaching $52,932 on Bitstamp at the time of writing after rising % in an hour.

Holding $50,000 support over the past two days, Bitcoin was primed for further gains in the short term, analysts believed, with one area in particular capturing hodlers’ imagination.

At around $53,600, Bitcoin’s total market cap will pass $1 trillion for the first time in history.

“It is simple. In the old world your money loses value, because governments debase currencies to fund their warfare & welfare state,” quant analyst PlanB summarized on Friday.

“In the new world #bitcoin increases in value, because math caps the monetary base at 21M BTC. The new world is eating the old world right now.”

Grayscale adds another 1,672 BTC

Cryptocurrency investment giantTitle: Bitcoin accelerates toward $1T market cap as price hits new all-time high
Sourced From: cointelegraph.com/news/bitcoin-accelerates-towards-1t-market-cap-as-price-hits-new-all-time-high
Published Date: Fri, 19 Feb 2021 09:26:32 +0000