Crypto Currency Corner
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Leading Crypto Currencies By Market Cap

 

 

 

 

 

Bitcoin Market Cap Update

 

Back in January, we wrote: "When we look at BTC from the perspective of its market capitalization and not its price, a bullish Elliott Wave picture emerges. Under wave analysis, bull markets rise in five waves. As the chart of Bitcoin's market cap shows, the rise has been in three waves to this point." 

The article also included the following chart.

Below is an updated chart showing where Bitcoin's market cap stands today.

After hitting a low of $112.47 billion on April 7, BTC's market cap has surged some 46%. It's the biggest recovery in market cap since the start of Bitcoin's correction in December, and suggests a major bottom was hit. With few tools to measure valuation, market cap works about the best for gauging how the market is valuing Bitcoin. The key will be for the April 7 low to hold against another a decline. If it holds up, Bitcoin is headed higher.

Tony Carrion

Previous Articles:
April 9, 2018
March 3, 2018
February 8, 2018
January 24, 2018


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