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$1 Trillion Market Capitalization For The Largest Cryptocurrency, Bitcoin. After Reclaiming $55K

The whole crypto market Capitalization sees some major declines and setbacks throughout the year. Especially, since May with many criticisms and bans. However, the asset keeps coming back strong and proving many wrong. This of course, includes even China as they always seek to restrict Bitcoin all the time. More so, Bitcoin’s market capitalization again is surpassing the $1 trillion mark. This is because of the continuous uprising of the largest cryptocurrency’s price month in month out.

Subsequently, there’s a new major milestone for the world’s biggest cryptocurrency. Meanwhile, the very first time Bitcoin’s market cap hit this spot was on Feb. 19.

However, BTC finally hits $55,499 on the Bitstamp exchange. Additionally, this records its highest level since May 12. On May 12, Tesla announces plans to halt accepting bitcoin payments over climate-related concerns. Tesla CEO Elon Musk confirms.

Notably, Ether and other leading altcoins are merely following Bitcoin’s lead as per market capitalization.

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However, The ETH/BTC pair is down with over 4% over the past 24 hours.

Conclusively, Bitcoin is recording roughly 30% increase over the past week, as market capitalization soar high.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.