{"id":31870,"date":"2020-11-17T11:23:39","date_gmt":"2020-11-17T09:23:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31870"},"modified":"2025-08-28T05:51:14","modified_gmt":"2025-08-28T02:51:14","slug":"bitcoin-market-cap-could-rise-to-1-trillion-after-hitting-20000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-market-cap-could-rise-to-1-trillion-after-hitting-20000\/","title":{"rendered":"Bitcoin market cap could rise to $1 trillion after hitting $20,000"},"content":{"rendered":"<p>Bloomberg analyst Mike McGlone is confident that Bitcoin&#8217;s market capitalization will reach $1 trillion. However, first Bitcoin&#8217;s price must overcome the main hurdle \u2014 the all-time high of $20,000 reached at the end of 2017.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">$20,000 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Is Primary Hurdle Toward $1 Trillion Market Cap \u2014<br \/>\nThe digital version of <a href=\"https:\/\/twitter.com\/hashtag\/gold?src=hash&#038;ref_src=twsrc%5Etfw\">#gold<\/a> but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021. Mainstream adoption is rising.. <a href=\"https:\/\/t.co\/m4JSt5G09N\">pic.twitter.com\/m4JSt5G09N<\/a><\/p>\n<p>\u2014 Mike McGlone (@mikemcglone11) <a href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1328310689123983365?ref_src=twsrc%5Etfw\">November 16, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>\u201c$20,000 \u2014 the main obstacle for Bitcoin on the path to a $1 trillion market capitalization. The digital version of gold, but with a more limited supply and a history of adding zeros, appears to be in an early stage of pricing and may simply continue its rise in 2021. Mass adoption is growing,\u201d the expert wrote.<\/p>\n<\/blockquote>\n<p>According to the chart attached to the tweet, McGlone forecasts Bitcoin reaching a $1 trillion market capitalization in the second half of next year.<\/p>\n<p>The aforementioned all-time high at $20,089 was set on December 17, 2017. Since then, 1,065 days have passed, the price has fallen to $3,126, and then risen by 436%.<\/p>\n<div id=\"attachment_116684\" style=\"width: 908px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-116684\" class=\"wp-image-116684 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Mess.png\" alt=\"Bitcoin market capitalization could reach $1 trillion after hitting $20,000\" width=\"898\" height=\"233\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Mess.png 898w, https:\/\/u1f987.com\/wp-content\/uploads\/Mess-300x78.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Mess-768x199.png 768w\" sizes=\"auto, (max-width: 898px) 100vw, 898px\" \/><\/p>\n<p id=\"caption-attachment-116684\" class=\"wp-caption-text\">The current Bitcoin price is just 16.46% below the all-time high. Data: Messari.<\/p>\n<\/div>\n<p>At the time of writing, the leading cryptocurrency is trading at around $16,770, with a market capitalization of $310.9 billion, according to CoinGecko.<\/p>\n<p>Earlier, Mike McGlone <a href=\"https:\/\/u1f987.com\/en\/news\/opinion-past-patterns-point-to-a-parabolic-bitcoin-rally-in-2021\">predicted<\/a> in 2021 a parabolic rise in Bitcoin, repeating the price patterns of past bull-market cycles.<\/p>\n<p>Subscribe to the ForkLog channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg analyst Mike McGlone is confident that Bitcoin&#8217;s market capitalization will reach $1 trillion. However, first Bitcoin&#8217;s price must overcome the main hurdle\u2014the all-time high of $20,000 reached at the end of 2017.<\/p>\n","protected":false},"author":1,"featured_media":31871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1145,1138],"class_list":["post-31870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-market-analysis","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31870"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31870\/revisions"}],"predecessor-version":[{"id":31872,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31870\/revisions\/31872"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31871"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}