What is the current total market value of Bitcoin in trillions?

Posted on Thursday, Aug 05 2021 @ 08:41 CEST by Thomas De Maesschalck
Bitcoin issuance in 2009, in the past two years, they have emerged as the king of digital currencies, resulting in more and more investors investing in Bitcoin. As we all know, the market value of a currency is the key to judging whether the currency has an investment value. So, what is the current total market value of Bitcoin in trillions?

What is the current total market value of Bitcoin in trillions

At present, the market value of Bitcoin occupies half of the market value of the entire currency circle, Ethereum and Ripple ranks second and third, and the market value of other currencies only accounts for about 20%.

From 2008 to 2010, the market value of Bitcoin exceeded 1 million US dollars; in 2012, Bitcoin payments appeared for the first time, and real economy suppliers began to accept BTC payments; in 2013, there was a bifurcation of opinions for the first time due to Bitcoin supervision and other reasons, and the price of Bitcoin began to fall. ; In mid-January 2015, it fell to a low of US$152; Bitcoin prices continued to rise in 2016 due to internal shrinkage and external economic fluctuations. In 2017, the price climbed to a high point; in 2018, the supervision was further improved, and the Bitcoin price fell again. , Bottomed out and rebounded in 2019.

What is the future market value of Bitcoin

The current total market value of Bitcoin has surpassed 700 billion U.S. dollars. Now investors and traders will pay close attention to it, and it has become a barometer of market preferences. Bitcoin has received the attention of mainstream media for a long time, and it is even more dominant. Bitcoin has also risen to a certain extent recently, but this does not mean that the dominance rate is also rising. Bitcoin's total market value ratio is still hovering around 70%, but when it enters February 2020, the market price of Bitcoin is also rising. Big price increases are often followed by significant declines. It is still unknown how it will be in the future.

What are the risks of Bitcoin?

1. High risk of loss

Many people lose their investment when trading Bitcoin to hackers or scams. Most people fail to recover from financial losses and eventually fall into despair. There have been dozens of reports about hackers and cybercriminals using the Localbitcoins platform to launder money. They used the stolen money to buy bitcoin from ignorant traders who did not know whether they were harmed.

2. Lack of security

There is no foolproof way to protect your coins from the threat of human error. Some of the problems that may arise include password theft, technical glitches and even fraud. A study on the Bitcoin exchange market showed that out of 40 online businesses that offered to convert Bitcoin into legal tender, 18 had closed down. Among them, only six companies repaid their customers. The research shows that most exchanges will last for a year or so, and there is a 30% chance that they will be closed within the year the exchange is opened. This is one of the main factors affecting the price of Bitcoin.

3. More supervision

Even if some countries/regions have developed detailed guidelines to guide Bitcoin transactions, it is very likely that governments will decide to treat it as a huge money laundering program. From this perspective, the federal powers may enact strong regulations, which may eventually lead to currency depreciation.

4. Low zoom level

The system is designed to limit the speed and number of transactions that can be made, thereby reducing the possibility of making Bitcoin a traditional payment method such as credit cards.

5. Lack of applications

Even if the currency is heavily used for illegal transactions, the possibility of using BTC in regular transactions becomes complicated. They cannot disrupt existing legal tender or electronic payment systems to a large extent. Currency will need applications for remittances, electronic transfers and micropayment transfers.

Through the above introduction, I believe everyone has an understanding of the total market value of Bitcoin. The total market value of Bitcoin is not fixed. The total market value of Bitcoin will be affected by various factors. Therefore, before choosing to invest in Bitcoin, All the details should be paid attention to, which is also the main key point. If you don’t know much about the total market value of Bitcoin, it will naturally have an unnecessary impact in later investment. For more details , please visit the website Zeus mining.