Bitcoin’s market cap is back above $1 trillion

Oct 6, 2021 | The Block News | 0 comments

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Bitcoin’s market capitalization has once again eclipsed $1 trillion. 

At the time of publication, Bitcoin was trading at $54,708, putting the market cap at approximately $1.03 trillion.

Bitcoin broke $50,000 for the first time in 100 days last month after a steep downturn to just below $30,000 in July. At that time, it was changing hands around $50,200, with market cap making its way towards the $1 trillion mark but never quite reaching it.

The market cap stalled at $989 billion on September 7 before the price took a downturn back to the mid-$40,000s. 

This is the first time since May of this year market capitalization has surpassed $1 trillion. The last time was May 10, 2021, when the market cap reached $1.06 trillion. In the early months of 2021, the Bitcoin market cap was regularly breaking the $1 trillion mark before May’s downturn.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

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