Bitcoin Closer To $18k Mark With A $300bn Market Cap

After looking heavy and going below $17,000, it seems like Bitcoin is again on the rise. Over the past few hours, the cryptocurrency has been rising and is currently sitting at $17,954.

Bitcoin is closer to the $18,000 mark which would be a lifetime high. Even though it depreciated by 2% in the past 24 hours, the past few hours were good for Bitcoin, giving it a 7.79% positive change.

Another great milestone is the market cap which got to $300 billion as of today and the new rise. Despite the slow descent in prices due to the altcoins which have garnered more attention from traders and investors over the past few days,  we all know that bitcoin is the main player out there.

Things have been looking good for Bitcoin Cash and ripple too. Both of the virtual coins have appreciated by 24% and 16% accordingly. So, many parallels can be drawn between this action and the behavior in the stock markets.

Most of the logic here comes from major equity indices which are usually the first to rally. Once the large-cap valuations seem overstretched, investors tend to rotate their money out of the large caps and into the small caps. So, the signs of weakness in Bitcoin could be due to the sudden chase of the small-cap cryptocurrencies over the past few days.

Most of the new buyers focus on other options and do not invest in Bitcoin simply because its price is high. However, with the current growth of Bitcoin, it is not wrong to expect the currency to reach the $20k by 2018.

This came perfectly on time for many people who were doubting if Bitcoin will grow more. According to experts, the growth will continue in 2018 as well – but no one knows how fast-paced and how voluminous it would be in terms of market cap.

What are your thoughts on Bitcoin?
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Have you invested in it – or still waiting?