In the financial world, it is always crucial to keep an eye on the bigger picture at play. In terms of global money and market values, cryptocurrencies play a role of little significance.
More specifically, the total value of Bitcoin and other crypto assets combined is still small compared to other markets.
Is Bitcoin Really Moving up?
So far, only silver has a smaller market cap, but gold is still many hundreds of billions of dollars away.
That being said, it is not all doom and gloom either,
Compared to the total valuation of the US military spending, for example, Bitcoin is performing admirably.
The balance sheet of the Federal Reserve is also spiraling out of control, primarily due to recent stimulus packages.
Compared to stock exchanges, or even the biggest tech companies on the Fortune 500, there is still plenty of work to be done.
All in all, comparing these different market segments doesn’t necessarily tell onlookers much.
Bitcoin is different from any other asset or form of money listed, yet its market cap remains of great importance.
Surpassing the $1 trillion mark is something many traders look forward to.
Achieving such a lofty goal will not come easy, as there is some shady behavior influencing the price at all times.
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