30s Summary

Bitcoin’s price recently hit $81,000, sending its total market capitalization past $1.6 trillion for the first time since its inception in 2009. On November 11, the market cap reached $1.62 trillion, elevating the overall crypto market value to $2.71 trillion. This surge means all Bitcoin buyers from the past 15 years have profited. Factors contributing to Bitcoin’s growth include increasing interest from institutional investors and President Donald Trump’s crypto-friendly stance. Analysts advise investors to hold onto their investments, suggesting there is still room for Bitcoin’s price to grow.

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So check out this milestone – Bitcoin price hit a whopping $81,000 which helped boost Bitcoin’s total value or market capitalization past $1.6 trillion. This hasn’t happened ever since Bitcoin came into existence in 2009!

On November 11, Bitcoin’s market cap zoomed to a cool $1.62 trillion. Thanks to this uptrend, the overall value of the crypto market has hit a sweet spot of $2.71 trillion, on par with its earlier best value, according to data from Cointelegraph and CoinMarketCap.

Here’s some more good news for Bitcoin investors: the recent rise ensures that everyone who’s bought Bitcoin in the past 15 years have made profits. According to Blockchain.com, all those unsold Bitcoins over the past 8,900 days have increased in value.

Currently, there are about 19.78 million Bitcoins in circulation. In fact, if all possible 21 million Bitcoins were out there today, Bitcoin’s total market cap would have been nearly $1.7 trillion.

Bitcoin’s growth has been supported by several factors: More and more institutional investors are getting interested in it, President Donald Trump’s crypto-friendly view, and an overall positive vibe among investors.

Trivia time: Bitcoin first crossed the $1 trillion line in February 2024 when, the price shot past $51,000. But the crypto couldn’t hold onto the milestone due to Bitcoin halving.

Following Bitcoin’s recent massive jump to $80,000, many traders think that we’re just at the beginning of a big bull market. Bitcoin analyst Tuur Demeester recommends investors to hold onto their investments and not make hasty decisions like selling off.

Sharing the same thought, Glassnode lead analyst James Check, says the gap between the price and the 200 Day Moving Average has still got space, indicating a room for more price growth for Bitcoin.