- Gold ranks first in the World's most significant assets, with a market cap of $ 13.9 trillion.
- Bitcoin is now the most widely known cryptocurrency worldwide, with nearly 90% of respondents in the UK having heard of it.
- The CAGR of Bitcoin stands at an impressive 47% over the past ten years, showcasing a remarkable performance that dwarfs the growth rates of Gold and USD.
Many have now realized that Bitcoin is not just a new type of currency but a pioneering technology that has disrupted the global financial system. At its inception, Bitcoin was valued at less than a cent. At that time, no one could have imagined that this small niche would bloom into a multi-billion dollar industry.
In a recent analysis by BanklessTimes.com, Bitcoin ranks tenth among the most significant global assets as its market cap reaches over $842.77 billion.
The site’s financial analyst, Alice Leetham, comments:
Bitcoin’s current rank is a true reflection of decentralized technologies taking over our financial systems. Looking back, Bitcoin has seen unprecedented growth over the years, and overcome so many setbacks. With continual acceptance of crypto and the rising momentum on blockchain tech, we can expect Bitcoin to rise as one of the most valued currencies in the world.BanklessTimes crypto, Alice Leetham
Bitcoins Statistics in 2023
The Bitcoin market in 2023 comes as a recovery, considering it lost about 65% in market value in 2022. Naturally, like all major cryptocurrencies, Bitcoin was hit hard by the fall of FTX, the recessive economy, and the regulatory crackdown. As a result, its market value and price fell. However, 2023 represents a good year for the Bitcoin market, with prices currently at $ 43,036.
Since May 22, the monthly profit of Bitcoin crypto has risen by nearly 15%. The trading volume now stands at about $ 18 billion, with over 19 million BTC in circulation.
Expert Expectations for Bitcoin in 2024
Undoubtedly, Bitcoin is making a statement in our current financial landscape. The platform accounted for nearly 50% of the total crypto market value by the start of September 2023. Ideally, this figure is expected to rise, given the escalated optimism around Bitcoin ETFs in 2024. According to reports, 90% believe Bitcoin ETFs will be instituted as early as January 2024.
The Bitcoin ETFs are projected to escalate Bitcoin’s price by twice as much. The BTC price in 2024 will range between $42000 and $ 100000, while some believe that they could see prices soar up to $160000 with the advent of spot ETFs.
And with regulators closing down on Bitcoin, Spot ETFs could help legitimize Bitcoin in most finance service industries. ETFs could increase Bitcoin’s accessibility and demand overall. And with a halving coming up, things are looking good for Bitcoin in 2024.
By 2025, many hope to see Bitcoin hit the trillion mark in market capitalization. Getting to the top ten of the world's most significant assets is a good start for the currency and proves we can expect much progression in the future.
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