Crypto Total Market Cap Reaches $2 Trillion for the First Time

Today, on April 5, the cryptocurrency market cap finally managed to breach the $2 trillion barrier for the first time.

First market cap high

The first all-time high for the market cap was made at $15.14 billion. It was reached in December 2013. 

Afterwards, a decrease of 80% followed. As a result, this led to a low of $2.12 billion, which was made on Jan. 13, 2014. 

After this, the ensuing upward movement let to a breakout of the all-time high.

Nevertheless, the break occurred after an initial rejection. The new high was reached roughly six months after the beginning of this upward movement and was made in January 2017. It measured $19.65 billion.

After a re-test , TOTALCAP began a parabolic upward movement that continued until December 2017. This led to the second all-time high.

Second market cap high

The upward move after the re-test continued until December of the same year. The increase measured 3,851%.

As a result, this led to the second all-time high of $761.74 billion. The movement was very sharp, being nearly parabolic all the way to the high.

Afterwards, a long corrective period began, which culminated with a low of $91.58 billion in December 2018. 

Current movement

Measuring from the second all-time high, the ensuing downward movement amounted to a decrease of 88%.

The market cap has been increasing since December 2018. It reached a new all-time high in December 2020.

Shortly afterwards, it broke through the $1 trillion barrier for the first time in January 2021. Afterwards, it broke through the $2 trillion barrier on April 5.

Measuring from that December 2018 bottom, it has increased by 2,000%. 

If the same rate of increase were to hold, an upward movement of 3,851% would take it all the way to $3.85 trillion.

For BeInCrypto’s latest BTC (BTC) analysis, click here.

The post Crypto Total Market Cap Reaches $2 Trillion for the First Time appeared first on BeInCrypto.

Source