The cryptocurrency market has reached new heights, with its total market capitalization hitting an all-time high of $3.12 trillion as of Nov. 12. This surge positions the crypto sector just shy of France’s GDP, making it the eighth-largest “economy” globally if it were a country, trailing behind only the world’s largest economies: the United States, China, Germany, Japan, India, the United Kingdom, and France.
This rally, led by Bitcoin’s soaring value, which recently reached $89,500, highlights the growing influence of digital assets in the global economic landscape. The market cap growth was fueled by a 7% increase in the total crypto market capitalization over just 24 hours, pushing it to a point where it even surpasses the value of tech giant Microsoft and approaches Nvidia and Apple.
Install Coin Push
Install Coin Push mobile app to get profitable crypto trading alerts as mobile notifications.
Bitcoin’s Dominance and Market Dynamics
With a market cap now exceeding $1.77 trillion, Bitcoin stands as a financial powerhouse, surpassing Spain’s GDP and reclaiming its position above the market value of silver. Markus Thielen, founder of 10x Research, suggests that Bitcoin’s dominance will likely remain robust as the crypto market moves toward an anticipated $4 trillion market cap. He predicts Bitcoin could hit a significant milestone of $100,000 by the end of the year, which would push its market cap to nearly $2 trillion.
However, there are differing perspectives on what will drive this growth. Rachael Lucas, a crypto analyst at BTC Markets, suggests that a market rally towards $4 trillion might be fueled by a “massive surge in altcoins,” which could challenge Bitcoin’s dominance. This view aligns with trends from past bull markets, where Ethereum, Solana, and other altcoins gained traction alongside Bitcoin.
The Return of a Crypto Bull Market
The last time the crypto market cap crossed the $3 trillion mark was in November 2021, shortly after Bitcoin achieved its previous all-time high of $69,000 during the 2020-2021 bull run. Today’s rally reflects renewed optimism and signals the arrival of the next bullish cycle, with a focus on Bitcoin, Ethereum, and select high-performing altcoins like Solana. Coin Push Crypto Alerts can keep users up-to-date on the latest crypto trends and signals, empowering investors with the insights they need in this expanding market. Note, however, that Coin Push Crypto Alerts does not offer direct buy, sell, or trading services, instead providing key information to help users navigate the crypto landscape.
Check out our article about Crypto Futures Signals to learn more!
Don’t miss our article about crypto alerts and telegram groups for futures traders. Stay updated with Coin Push Crypto Alerts as we track the ongoing developments throughout Bull Run 2024.
What’s Behind the Current Rally?
Much of this bull market’s momentum can be attributed to Bitcoin’s halving event in April, which reduced block rewards from 6.25 BTC to 3.125 BTC. This scheduled halving significantly impacts the available supply of new Bitcoin, creating a scarcity effect that, historically, drives up prices as demand exceeds supply. For example, on Nov. 11, Bitcoin ETFs in the United States saw a major influx, buying nearly 13,940 BTC while only 450 BTC were mined on the same day.
This dynamic not only intensifies demand but also underscores Bitcoin’s unique supply-driven value proposition, especially as its market cap inches closer to global financial benchmarks. Unlike traditional assets, which can have an unlimited or renewable supply, Bitcoin has a fixed supply, with about 94% of all Bitcoin already in circulation or lost. This scarcity will continue to put upward pressure on its price as more investors and institutions enter the space.
The Outlook for Bitcoin, Ethereum, and Altcoins
As the crypto market cap grows, the influence of Bitcoin remains strong, yet Ethereum, Solana, and other altcoins are likely to play an essential role in driving the market further. Thielen notes that some Solana-based tokens are expected to outperform other assets, while many tokens that dominated the 2020-2021 bull cycle may not perform as well this time around. The shifting dynamics within the altcoin space provide opportunities for those paying close attention to market trends.
In the coming months, Coin Push Crypto Alerts will continue to provide detailed insights and signals on Bitcoin, Ethereum, and emerging altcoins, positioning investors to make more informed decisions in what could be a record-breaking bull run through 2024.
Reliable crypto signals and market alerts are essential for those looking to stay ahead in this rapidly evolving market. With Coin Push Crypto Alerts, you can navigate the latest trends and capitalize on timely insights — all while understanding that Coin Push does not directly engage in trading but serves as a trusted resource in this bullish landscape.
Stay tuned for more as we monitor how this election unfolds, with real-time insights into crypto markets and emerging trends that could influence digital assets well into the future.
Disclaimer: All links provided are for informational purposes only. Coin Push Crypto Alerts does not endorse or take responsibility for the content or services provided on external websites.
Disclaimer: The information provided in this article does not constitute investment advice, financial advice, trading advice, or any other advice, and should not be treated as such. Coin Push Crypto Alerts does not recommend buying, selling, or holding any cryptocurrency. Always conduct your due diligence and consult a financial advisor before making any investment decisions.
Join Coin Push Crypto Alerts for Top Crypto Calls
There are indications that the crypto will be distributed to players over two years rather than all at once. This approach is likely designed to prevent a rapid drop in price after listing, with the intention that only the “whales” will remain to buy up your coins gradually.
Install Coin Push Crypto Alerts today and take the first step towards mastering the market in 2024. Choose reliability, choose transparency, and unlock the full potential of the upcoming bull-run.
Coin Push
Coin Push Crypto Alerts stands as a testament to the power of mathematical algorithms and data-driven analysis in providing actionable insights to traders. By prioritizing reliability and transparency, Coin Push Crypto Alerts empowers traders to make informed decisions and navigate the complex crypto market with confidence.
And always remember – No fortune telling, just math!
With Coin Push Crypto Alerts leading the way, traders can trade smarter, not harder, and seize the countless opportunities the crypto market offers. Choose reliability, choose transparency, and install Coin Push Crypto Alerts.
Follow Us on social @coinpushapp
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Trade Like a Pro with Coin Push Crypto Alerts
Are you looking to enhance your trading skills or confirm your strategies? AltSignals provides precise trading signals to help both novice and experienced traders. Explore Coin Push to stay ahead of the market and make informed trading decisions.
Install Coin Push Crypto Alerts today and take the first step towards mastering the market in 2024. Choose reliability, choose transparency, and unlock the full potential of the upcoming bull-run.
