Bitcoin’s Market Capitalization Drops Below $1 Trillion
With the crypto market starting another day in the red, Bitcoin’s market cap again fell below $1 trillion.
The third major correction of the current bull market is deepening. After reaching an
According to CoinMarketCap data, the market value of BTC has also decreased by $83 billion in the seven days since March 18, and it has declined to $996 billion as of the time of press.
Analyst Willy Woo had said just a few days ago that there is a high probability that the BTC market cap will never drop below $1 trillion again.
$1 trillion is strongly supported by investors. It seems likely that Bitcoin’s market cap will never fall below $1 trillion again.
The market value of BTC, which exceeded $1 trillion for the first time on February 19, could not hold this level for a long time and fell below $1 trillion after four days. Bitcoin, which reached the
The total market value of cryptocurrencies has also declined by about 9.5% since March 22, to $1.66 trillion.
Analyst Josh Rager suggested that one of the biggest factors behind this decline could be
Mentioning MicroStrategy CEO Michael Saylor, whose company has bought a large amount of Bitcoin in recent months, Rager said:
Don’t try to pretend that Saylor is not going to take profit in the end, he will get profits like all other funds on the planet. They will buy back at the lower price.
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