as we can see currently we have 1.515 Trillion Dollars invested in the entire ecosystem of the Cryptocurrencies which is quite a bit huge amount of FIAT and yet we may have more Fiat to get invested in to this world as FOMO of retailers may pressurize it in higher but the question is how far? now days we can see many regulatory and governments bodies are working on their Crypto currency as the system became aware of that they can not resist this movement so they want to get themselves involved in this new area and they are introducing their own coins or tokens. from the other side we can see that the Online payment system and companies are also incorporating the crypto currencies in to their payment moods such as PayPal, Google Pay, Samsung Pay and so on... so all of these factors can show that we might be having more Buy pressure and this Bullish trend Shall continue its rallies,
we have specified some zones based on Fibonacci expansion and we could see that soon we may face 2 Trillion dollars level and post that we may have some distribution as some corporate and big investors may want to capitalize and convert their Cryptos to Fiat in order to pay their investors or bills, so we can still be optimistic about this bull run,
keep in mind that this chart includes BTC and Bitcoin itself holds 61% of this market cap dominance and the related chart of that and Ethereum dominance is linked for your reference
we will link the TOTAL chart without BTC also soon to the same analysis.
please comment your opinion about this analysis and description
Comment
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we are near by 2 T USD Target achieved prediction worked
We DON‘T have 1.515 Trillion Dollars invested!!! WTF, you don’t know what a market cap is?
BitonGroup
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@Belzebump, 1.515 T USD is the amount of Fiat Currency has been used to purchase Cryptocurrencies and Within the blockchain industry, the term market capitalization (or market cap) refers to a metric that measures the relative size of a cryptocurrency. It is calculated by multiplying the current market price of a particular coin or token with the total number of coins in circulation.
thanks for your comment.
peugo407
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@BitonGroup, "1.515 T USD is the amount of Fiat Currency has been used to purchase Cryptocurrencies and Within the blockchain industry" this statemant is factually incorrect. Please do your homework first before you will post misleading informations on public
BitonGroup
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@peugo407, could you please explain it so we also can understand it correctly?
ThinkLikeaWhaleTLAW
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Yes sir great job.. We need a talk one of these days.
I'm seeing some troubling signs on the 3day chart of btc my man.
@BitonGroup What an absolute wonderful and beautiful analysis you have mapped out there.
My perception 1st thought seeing your chart was the support area is what defi and institutional money has essentially done to the market cap in the short term. That added 2 trillion.
The kicker i was trying to figure out was about roughly the amout it added to the market cap.
So that's my perception of your chart.
Another thing I loved you did it in the daily not monthly.. And applied fib which I'm not good at but my numbers usually range within the fib the way I map it out.
I calculated the pertcentage i felt defi amd institutional brought in and your chart elegantly shows that.
The question remains can retail investors bring in 500 billion dollars? Is what we have to ask ourselves.
We are roughly 2 weeks ahead of the FOMO stage now.
How do you perceive this?
Again I enjoy our encounters and want to learn more from you and. From our engagements of communication.
I still have many things that hasnt steered me away from my original assessment of the market.
Legalizedhustler
BitonGroup
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@Legalizedhustler, WELL regarding the 500 B USD we can see that there are many banks and regulatory are changing their perception about the crypto and so many countries are also coming to the party and joining the Pool, now that might be even another T not only 500B :))
i am very very happy that you are watching these charts and their are conveying my thought process to you, and i also should say that it a very productive conversation with you and we shall have it on many aspects of the market and dig more as we are only benefiting from the data what we are seeking and sharing with each other here, it is the accumulation of data and thought processes which is coming together on a creative manner...
thank for your observation and lovely comment