How Will Bitcoin Develop with the 55% Market Cap?
After setting a new record of single-day decline in recent years, it is difficult for the cryptocurrency market to rebound, so the bitcoin value is further pushed to a higher level.
In the past 24 hours, the value of bitcoin market has exceeded 55%, which touched its highest value since December last year. As a large number of tokens began to fall, the market capitalization of bitcoin grew rapidly in the past few days, from 51% to 55%. Although the market value of cryptocurrency did not fallen below $200 billion again, the market cap of bitcoin and the other competitive currency are still declining, such as ethereum value.
Two days ago, the annoucement of Goldman to give up the cryptocurrency trading platform surprised many people but did not have a significant impact on the price of bitcoin. Subsequently, the CFO of Goldman Sachs, Martin Chavez officially broke the rumor and claimed that they did not abandon bitcoin and was developing related derivatives and hosting solutions.
Although Bitcoin failed to hit a new high as most people wish, its development is gratifying. The number of bitcoin lightning network channels has exceeded 12,000, and the capacity has exceeded 100BTC, becoming more and more powerful.
In addition, bitcoin, which has a poor price performance, has not only become a new investment method in the hyperinflation region, but also saved and help local people. In the countries with poor economic conditions, including Venezuela, many people are using Bitcoin to preserve value, and local currency has become a pile of waste paper, while in Iran, bitcoin price has even hit a new high at $25,000.
Therefore, the development of bitcoin is not only about price, but more importantly, it can really change people’s lives and change the world.
