The cryptocurrency market cap has seen a dramatic climb in the last quarter of 2020. Spurred on by the Bitcoin price surge, the total market cap currently sits at $650 billion, a mere $180 billion off the all-time high set in January 2018.
The crypto market rally which has been led by Bitcoin has seen the world’s most popular digital asset climb a staggering 120% in the final quarter of 2020, and up over 220% for the year.
Most majors have reacted positively to Bitcoins surge, with Ethereum, Ripple and Litecoin also gaining in the final quarter.
Whispers of another potential bull run similar to that of 2017 are now being considered as Bitcoin broke its 2017 all-time high of $20,000 this week, tapping $24,000.
The current market capitalization of the cryptocurrency market has not been this high since January 2018, and with Bitcoin breaking out, there is no reason why the market cap cannot surge to new all-time highs, along with cryptocurrency prices.
The potential for another bull run in 2021 is very likely with the current market conditions. All eyes will be on Bitcoin pushing to further extend its bullish price action to new highs, with many experts expecting Bitcoin to surge to over $100,000 in the future.
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