link3528 link3529 link3530 link3531 link3532 link3533 link3534 link3535 link3536 link3537 link3538 link3539 link3540 link3541 link3542 link3543 link3544 link3545 link3546 link3547 link3548 link3549 link3550 link3551 link3552 link3553 link3554 link3555 link3556 link3557 link3558 link3559 link3560 link3561 link3562 link3563 link3564 link3565 link3566 link3567 link3568 link3569 link3570 link3571 link3572 link3573 link3574 link3575 link3576 link3577 link3578 link3579 link3580 link3581 link3582 link3583 link3584 link3585 link3586 link3587 link3588 link3589 link3590 link3591 link3592 link3593 link3594 link3595 link3596 link3597 link3598 link3599 link3600 link3601 link3602 link3603 link3604 link3605 link3606 link3607 link3608 link3609 link3610 link3611 link3612 link3613 link3614 link3615 link3616 link3617 link3618 link3619 link3620 link3621 link3622 link3623 link3624 link3625 link3626 link3627 link3628 link3629 link3630 link3631 link3632 link3633 link3634 link3635 link3636 link3637 link3638 link3639 link3640 link3641 link3642 link3643 link3644 link3645 link3646 link3647 link3648 link3649 link3650 link3651 link3652 link3653 link3654 link3655 link3656 link3657 link3658 link3659 link3660 link3661 link3662 link3663 link3664 link3665 link3666 link3667 link3668 link3669 link3670 link3671 link3672 link3673 link3674

Bitcoin Realized Cap Hits New All-Time High What This Means For BTC Price

Bitcoin Realized Cap Hits New All-Time High — What This Means For BTC Price

Bitcoin has just recorded the highest realized cap since the March 12 market crash.

This is according to on-chain data from the data analysis platform Glassnode. The current realized cap stands at $106.63 billion, slightly higher than it was just before the market crash. This is further confirmation of Bitcoin’s recovery from the March crash which affected its price significantly. A recent Coinmetrics report shows that Bitcoin has shown impressive recovery since then and the same pattern has been observed on the Ethereum network. On 1 June, Bitcoin’s market capitalization returned to over $187 billion which was just below the February high before the crash. Bitcoin’s realized cap which is the value of all coins at the price they last transacted on-chain is another indication of this recovery. That it is reaching a new all-time high now means more money has been flowing into the asset, and that people are developing more interest in it as an investment option, according to Marty Bent’s newsletter in February when the realized cap was at an all-time high.

What this means for price

The realized cap has just reached a new all-time high, the market cap has also shown major recovery from the effect of the crash, but how does this affect the price of the asset? There is no clear correlation between price and a rising realized cap. However, Bitcoin realized cap saw a massive increase between mid-2017 and early 2018. This coincided with the biggest bull market in the history of the asset.While it is not clear where the price will go following this new all-time high realized cap, there have been predictions that Bitcoin is likely to go higher in the coming weeks as money continues to flow into it as indicated by the realized cap. The asset is currently trading at $9,384 after dropping from over $9,500. It has however managed to sustain the $9,000 price level for some time now although it has not been able to stick above $10,000.

Article Produced By
Ponvang Bulus

Ponvang is a cryptocurrency enthusiast, investor and writer. He's particularly interested in trending issues in the crypto space both technical and financial and loves to write about same.

MarketHive is a social marketing platform for entrepreneurs that has the combined power of Facebook, LinkedIn, Marketo and Amazon is the game changer in social Marketing network, the first of its kind in the industry, built on the block chain and made available 100% free to everyone.

Get paid to join the system.

Plus, we are built on the Blockchain which allows Airdrops of 100 Markethive Coin (MHV) , upon joining and micropayments for using the tools mentioned above.

This is all free to you.

Info :