The price of bitcoin has gone parabolic in the past few weeks, creating and smashing countless new
Mainstream media has been heavily covering the break above $4,000, most of the articles and corresponding coverage has been highly bullish. Prominent sources such as Forbes, CNBC, the Wall Street Journal, and Business Insider have all fully covered the fanfare pertaining to the milestone event.
The total crypto currency market cap has ballooned to $140 billion, with bitcoin now conferring to a larger chunk of that pie at $70 billion (more than 50% at the time of writing). The remainder is split up between ethereum at $28 billion, ripple which is holding at $6.5 billion, bitcoin cash at a valuation that is slightly below $5 billion, as well as other alternative crypto currencies and assets.
Bitcoin dominance back above 50%: $70bn cap out of a total of $140bn. Ethereum at 20% with $28bn. pic.twitter.com/7TBeajREsV
— Tuur Demeester (@TuurDemeester) August 14, 2017
In the meantime, segwit has locked in and has entered its activation period. Completion is expected by August 22, if the existing momentum and speed in block generation stays constant.
Interestingly, bitcoin is as of this moment, worth more than Paypal, at least when it comes to market capitalization. An actual detailed article comparing both, that would factor in existing global circumstances, along with comprehensively explained causes for the anomaly, appears to be lacking at present.
Bitcoin’s market cap ($71B) is now higher than Paypal ($70B)
— Marc van der Chijs (@chijs) August 14, 2017
#Bitcoin $BTC Market Capitalisation surpassed Paypal =) pic.twitter.com/lnxKhweape
— Peter Sin Guili (@petersinguili) August 14, 2017
The marketcap of #Bitcoin is now higher than Paypal.$BTC – $71.32B.$PYPL – $71.13B. https://t.co/3VZaofTuap
— Collin Crypto (@CollinCrypto) August 14, 2017
Startups in the fintech industry are rapidly taking away business from the ageing banking sector. Disruptions of the old paradigms are rampant, proving that innovation and flexibility may be needed, if the exhausted banking giants and conglomerates are to survive.
#Disruption from every direction#fintech #cryptocurrency #bitcoin #ethereum #Banking #PayPal pic.twitter.com/1gf398nG4O
— massiot disruptum (@massiotdisruptu) July 18, 2017
Exotic predictions are plentiful as well, and certain social media figures are citing the top of this
History is being revisited due to the unfolding events, comparisons are being drawn to the
I was a few years too young to get caught up in tech bubble. & I think Ill be grateful I was about 2 too old to get caught in bitcoin bubble pic.twitter.com/2TvNm8FjvC
— panamaorange (@panamaorange) August 12, 2017
Trading began on August 9 at the $3,178.72 weekly low (GMT 10:00), before a meteoric rise in price stopped out at today’s currently unbroken $4,328
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