Crypto Market Cap Hits The $1.2 Trillion Mark

Another good day

The cryptocurrency market capitalization hit the $1.2 trillion mark yesterday for the first time, with Bitcoin swinging around the $40.3k mark and showing an increase of approximately 18% in trading volume. I think we can all agree that you don't have to be vegan to enjoy the greenery.

The space feels healthier than ever, and with the ongoing lockdowns and the terrible financial state most countries going through this mess are trapped in, my personal opinion is that there's a lot more to come. Apparently the cryptocurrency ecosystem is the antidote to all the negativity spread by mainstream media outlets regarding the virus outbreak and what the future holds.

I do believe that what is bearish for liberty is bullish for the cryptocurrency ecosystem, so I expect things to escalate as the months go by unless we manage to find a solution that will allow us to go back to normal. Of course this is a double-edged knife, as the situation acts as a catalyst for crypto adoption, so my feelings are mixed. But I will gladly watch the market pump.

Thinking ahead

In the image above you can see the total cryptocurrency market capitalization fluctuations during the last 24 hours. Even though it's indeed a very short time interval, you can clearly see a trendline converging to the equation engraved in the chart, and we're on a linear scale. The market is hitting new all time highs, and many are expecting the alt season to begin any time now.

This means that these are evidently really good times to be around, and most people would call it a bull market. I'm no expert but I do believe we haven't seen the real bulls yet. Of course that is just speculation based on a number of factors some of which are pretty unpredictable, so nobody really knows what's going to happen in the next few days/weeks/months.

Looking back

In the image above you can see the total cryptocurrency market capitalization fluctuations during the last 8 years. Sure, nobody has a crystal ball, so there is no way of knowing what the future holds. However, having a look at the way the market has been moving in the last 8 years will allow you to see the bigger picture and remain calm and positive even when the bear returns.

Of course the past is not always a credible indicator of what the future holds, but taking into consideration the fact that the cryptocurrency industry is still in its infancy stage and the obvious pattern presented in the chart, I believe we can be optimistic about the future. The space has just started to attract the attention of financial insitutions and Wall Street sharks, so I can't even begin to imagine what the price of BTC will be say ten years down the road.

It's still early

And if you don't think it's still early in the game, then hit the street and ask random strangers what they know about Bitcoin and the blockchain technology. I bet the vast majority will respond 'nada' even if you live in one of the most advanced countries of the western world. To be honest, even though it is a bit discouraging, it also means that we still have plenty of time to accumulate more at a discount.

For now I am more than happy to be part of the HIVE/LEO movement and excited about the ways in which it allows me to generate crypto income while absorbing tons of valuable information regarding the space, and staking all my earnings feels like life insurance. It feels like building an internet store in a virtual city where real estate will boom in the not so distant future.

Of course this is all speculation, but this scenario doesn't sound far-fetched given the fast pace at which the world is evolving. Technology is taking over our lives, and the blockchain technology is here to revolutionize the way we perform transactions on a global scale. It's a bet I'm willing to place, so I'm going to stick to the plan for now. Besides, it's very easy to be positive on a green day like this one.

Thank you for your attention

Alright guys, that's it for now. I sincerely hope you learned something new today. Thank you for taking the time to read those lines.

Just my two cents. This is by no means financial advice. Just sharing my personal views and experiences. Please do not take my word for your investment choices, and always do your own research.

Stay safe and have a good one,
@lordneroo

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Image Sources: 1, 2, 3

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