According to CoinGecko, the total market cap of the cryptocurrency market is $ 2.36 trillion (approximately Rs. 1,72,26,737 crore), of which the total value of Bitcoin is $ 900 billion (approximately Rs. 66,804,75 crore).
2021 proved to be a very good year for Bitcoin. The world's largest cryptocurrency has hit an all-time high this year, reaching $ 60,000 (approximately Rs. 44,55,079). However since then the coin has seen the biggest decline. Given this volatility, cryptocurrency experts are finding it difficult to predict next year's results.
Between December 2020 and April 2021, the price of Bitcoin more than tripled and reached its all-time high, at આંક 60,000 (approximately Rs. 44,55,079), but Bitcoin traded at $ 50,000, according to a news agency report. Went down (approximately Rs. 37,12,584 in the new year) and until the last day of the year this cryptocurrency kept wandering around this mark.
Lucas Lagaudis, Executive Director, Cryptocurrency Investment Fund ARK36, said:
He added that "although the continued acceptance of digital assets by large investors and their further integration into the financial system will be key drivers of the development of the crypto space during 2022."
One of the main reasons for Bitcoin's performance in 2021 is Wall Street's growing appetite for cryptocurrency. The entry into the cryptocurrency exchange Coinbase's stock market in April was the biggest reason behind the coin's record high.
Bitcoin peaked at $ 66,000 (approximately Rs. 49,00,020) in October after the launch of the Bitcoin Futures Exchange-Traded Fund (ETF) on the New York Stock Exchange.
Furthermore, according to some experts, when Bitcoin enters 2022, there is a risk of increased competition, especially with its nearest rival Ethereum.
In November, Twitter co-founder and CEO Jack Dorsey left the social media platform, and has since focused on his digital payment firm to further expand the cryptocurrency.
According to CoinGecko, the total market cap of the cryptocurrency market is $ 2.36 trillion (approximately Rs. 1,72,26,737 crore), of which the total value of Bitcoin is $ 900 billion (approximately Rs. 66,804,75 crore). Currently, only Bitcoin is leading this market.
03-Dec-2024