Bitcoin’s Rise Brings Hope to Altcoins as It Nearly Overtakes Silver

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  • Bitcoin successfully breaks out to the bullish price of $53K.
  • Bitcoin is just an inch away from overtaking silver’s market capitalization.

Bitcoin, the king of cryptocurrencies, is now on the rise as it successfully returns to the bullish price of $53K. This current market position of Bitcoin made the crypto record a whopping 24-hour growth rate of +7.6%. As a result, most of the people in the crypto community are now rejoicing as the chief cryptocurrency is back on its feet once again.

Source: CoinGecko

The rise of Bitcoin does not only bring joy to the investors around the world but is also felt by some altcoins in the crypto market. Based on the illustration above, we can see that the top crypto in CoinGecko managed to have an increased rate of over +5%. In this case, we can say that Bitcoin truly is an influential crypto that plays an important role in the crypto market.

In terms of market capitalization, Bitcoin amounts to over $1 trillion. For this reason, experts around the world cannot help comparing Bitcoin to silver. For them, Bitcoin is already just an inch away from overtaking silver into its current market position in terms of market capitalization.

This event made Bitcoin Magazine react:

With all these accomplishments that Bitcoin has achieved, we can say that Bitcoin has already come a long way to where it is right now. Furthermore, Bitcoin nowadays continues to be acknowledged by countries, companies, and individuals worldwide. In fact, Dave Portnoy, a Penn Stock investor who does not believe in Bitcoin, now owns a Bitcoin.

Truly, Bitcoin is already one step closer to becoming the leader in the world financial system. Today, Bitcoin trades a high price of over $53k with a 24-hour trading volume of almost $64 million.

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