- Bitcoin beat Facebook (META) by market capitalization.
- This places Bitcoin as the 9th most valuable asset in the world.
- Bitcoin Fear & Greed Index sees a positive shift for Bitcoin.
In the midst of what seemed to be a massive rut in the crypto space, Bitcoin has broken the silence. As of early this morning, Bitcoin flipped Facebook (META) in market capitalization.
According to a tweet from Watcher.Guru, this makes Bitcoin the 9th most valuable asset in the world. At the time of writing, the price of Bitcoin (BTC) is $42,778.53 according to CoinGecko. This is a 17.9% increase over the last 2 weeks.
Most crypto analysts anticipated the price of Bitcoin to reach and surpass $100,000 by the start of 2022. In contrast, the price of Bitcoin and many other cryptos dipped by a lot. This in turn led to an ‘Extreme Fear’ sentiment towards Bitcoin.
However, this sentiment has slowly shifted to ‘Fear’ with a score of 45. According to the Bitcoin Fear & Greed Index, this is a good sign. In fact, it could mean that the sentiment toward Bitcoin and other cryptos could slowly shift to ‘Greed’.
Like before, the sentiment towards Bitcoin has constantly been fluctuating. In fact, it keeps rising and dipping. Still, the rises and so much higher than the dips. Thus, the Bitcoin and crypto community has been patiently waiting for Bitcoin’s next inevitable surge.
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Recently, Facebook saw a drop in its daily active users. This led to a drop in META’s value. By overtaking META, Bitcoin is already in the big leagues. Due to this, perhaps many more will start to consider switching to Bitcoin over META and other brands.
Presently, the crypto trading space is showing massive signs of a huge rally. Many crypto analysts predicted a massive surge for Bitcoin by the end of 2022 Q1 or by the start of 2022 Q2. Indeed, this could still take place, and it seems the market is steadily heading in that direction.
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