BTC Surpasses $18,000 Growing Its Market Cap - Is The Bull Market Well And Truly Here?
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Things are looking very exciting for the leading cryptocurrency today after it was approaching $18,500 overnight. However, just after it reached such a milestone, it had a flash crash as large sell orders were noted on spot and futures platforms.
After the King coin has had such a milestone, it looks like it could be very well on its way to hit $20,000 by the end of 2020.
This would be a massive achievement for the currency and the industry as it would be the first time it hits such a high.
As the market capitalisation rises for the leading coin, it overtakes a massive American conglomerate company, Nvidia. One of the most well-known manufacturers of graphics cards in the world has been overtaken by the King Coin after it was able to cross the $18,000 Key resistance level.
Many people are now of the thought that bitcoin has well and truly returned to its bullish state with some analysts saying that the coin still has time to prove itself even further by getting $20,000 or even crossing that line.
Over the course of this year, bitcoin has been performing very well despite the coronavirus pandemic and the economic turmoil that ensued. Google search queries have even been on the rise with more eyes being drawn towards the industry.
Companies such as Grayscale own 3% of the overall bitcoin supply as institutional investment is also on the rise.