Crypto market is performing tremendously well and we all saw bitcoin touching the 50k mark yesterday and currently also trading very close to that mark itself. While this 50k mark was achieved after a very long time I was curious about the total crypto market cap records globally and so that is what I will share with all of you in this blog so that you can understand why this period can also mark the beginning of the upcoming bull run but before we start I want to make it crystal clear that I am not your financial adviser.
Let us have a look at the last two years global crypto market cap. The below chart will help you with that which I took from Coingecko.
After analyzing it I can say that the global crypto market cap has broken a resistance of approximately 22 months which is quite a good time, It is almost close to two years. Last time we saw these numbers is April 2022. As a long resistance is broken we can expect the market to retest from a little lower number as the halving is also close and people are still waiting for the historical dump that is often coming close to halving.
I can't say if that will happen this time but yes that is something people are looking for in the market right now. I am a safe player and that is why I have left no dip for last few months. I was buying continuously and so I don't have to worry about the bigger dip though I have some funds secured for that part of the market as well. Now let us have a look at the current global market cap.
Now as we know the current crypto market at global level already let me share the data for last bull run when the market was at it's peak. I have zoomed in that part of the market which we saw in November 2021 so you can check that in the screenshot I have shared below, It tells us that the global crypto market cap was 3.04 trillion dollars approx.
We are 35% away from reaching that number again but Interestingly bitcoin is just 27.5% away from reaching it's maximum value that is the all time high. By looking at this data we can also say that Alt coins are taking more money in them compared to the last bull run. So, there is no chance we can ignore these alt coins as they have actually performed better compared to bitcoin.
What are your strategies with the current market situation? Share with me in the comments.
Thank You
