Bitcoin on Friday morning again encountered increased sales when it tried to rise in price above 48 thousand. Nevertheless, over the last 24 hours Bitcoin grew by almost 6% to $ 47k, and during the week the strengthening reaches 30%. Bitcoin dominance index is stable at about 61%. The total capitalization of cryptocurrencies tends to $ 1.5 trillion. The capitalization of Bitcoin separately is approaching $ 900 billion. Overcoming the benchmark cryptocurrency of the $ 1 trillion milestone. will be of great psychological importance for market participants, as it will clearly attract the attention of the media.
In effect, this can be comparable to overcoming $ 20k in due time, as it will convince investors to strengthen the foundation of the reference digital currency. We will probably soon see new statistical tools emerge from established data providers in the traditional market, which will be perceived by institutional investors as more reliable than existing ones.
CoinMarketCap is often accused of data being out of date, mainly as a side of overstating trading volumes by the largest exchanges on the list. Transparent data will have to be another element in the way of the crypto market recognition as a destination for investment by smart money.
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