Look at this. The market cap went up by 6 billion USD. 6 billion entered the market to make this break through happen. Institutional investors coming in before bakkt? Venture capitalists? This is definitely not just normies suddenly coming in. Something's bound to happen. I think that we are slowly entering into a new bull market. We're going to test 8k again.
Breakthrough 6 billion
Alexander Cooper
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Sebastian Evans
Do you really think 6 billion dollars had to go into the market to move the needle 6 billion dollars? I would venture you could move bitcoin marketcap the needed 3 billion with less than 50 million dollars. Perhaps much less.
Adrian Sullivan
number of coins * price = market cap
what do you think?
Liam Morris
>Go to exchange
>buy one btc for 7000 usd
>chart shows 7k spike
>I just put 20 bil into market cap
>according to OP
AHAHAHAHAHAHAHAHAHAH
Jordan Thompson
This is factually incorrect on every level.
Lucas Walker
Look, its retarded !
Ryan Johnson
You fucking idiot
Jayden Nguyen
How do you know how much bitcoin is worth atm?
Jeremiah Ross
Nathan Martinez
these sudden jumps are the result of lack of overall liquidity across all markets, therefore sudden mc jumps are expected and also irrelevant
James Ross
>$20 billion entered the market
How brainlet is OP... holy shit.
Carter Young
Meant to say $6...
Learn why "market cap" is a stupid measure for crypto btw
Joseph Brown
Hunter Ramirez
OP baited 11 anons. probably best bait ive seen all week. congrats
Jose Gutierrez
I don't know what you mean. It doesn't take 5 billion dollars to raise the marketcap of bitcoin by 5 billion dollars, though.
Charles Walker
I mean, is there now $70 917 974 061 worth of dollars in the bitcoin now?
Charles Johnson
Isaiah Parker
No. If everyone liquidated all 18 million BTC in circulation it would not happen at the current spot price.
Bentley Jenkins
LMFAO
there needs to be some sort of financial IQ test to post here or something, imagine Jow Forums posters taking advice from people like OP. Or posters should have to list what crypto they're invested in so we know what to stay away from
Samuel Allen
So nobody knows how much there is money currently in bitcoin? something 50 billion maybe?
Parker Brown
retard
Ryder Stewart
Marketcap doesn't mean that money actually entered. It means that's the price of 1 times the volume of all. Here's an example (albeit simplified):
>BTC worth $1k
>15 million BTC exist
>So BTC market cap is 15 billion
>All BTC selling for 1k are bought
>Ten few people buy the next cheapest BTC, which are limit selling for $1.1k
>Only 11k actually entered the market (10 people paying $1,100 extra each)
>BTC is now worth 1.1k
>Still 15m BTC
>BTC Marketcap goes up to 1.1k * 15m, or 16.5 billion
Blake James
That's not how it works brainlet.
Andrew Flores
the amount of a mcap increase doesn't correlate with "new money" entering the market
it's basically just a representation of supply/demand, if more people are buying than selling, the price naturally goes up, a higher price means larger mcap, whereas if there's more selling than buying, the price goes down, lowering mcap.
Increased mcap here just means more buyers than sellers within a very narrow window (today) which has driven up prices slightly.
Camden Ramirez
It's not centralized, the price is always based on the most recent sell and buy order. You can:
>market buy (buy from the cheapest available seller)
>market sell (sell to the highest current bidder)
>limit buy (only buy at X price, you decide X. It won't buy it until there's one selling for that price and your order is the oldest at X price)
>limit sell (sell at X price, you decide X. It won't sell it until there's someone buying for that price and your order is the oldest at X price)
The price is entirely decided by people who own it selling and people who want it, buying. All currencies are actually like that but you don't see the currency markets where they do this (trading between currencies on exchanges). Stocks work this way too. There is no central price determination except in totalitarian governments that use their own pricing, and that has always failed.