Six Numbers That Defined Crypto’s Record Year

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Here are six metrics that defined crypto in 2021 and what they mean for the coming year:

The estimated portion of gold’s $11 trillion market cap reached by Bitcoin at the height of its bull run on November 10th, 2021. On that date, Bitcoin hit an all-time high of $68,721, representing a 120% surge for the year and a nearly $3 trillion market cap. Three years ago bitcoin’s total market cap amounted to approximately 2.8% of gold’s. Still, bitcoin was far from the best performing crypto asset in 2021.

For more in-depth news and analysis of the dynamic and emerging crypto markets, subscribe to our premium research publication,That said, while bitcoin’s ‘digital gold’ narrative has found a receptive audience, as its surge coincided with record levels of inflation, it still trades wildly which makes it largely untouchable for anyone seeking sleep-well-at-night safety in their asset purchases. With the Fed looking to accelerate its tapering schedule in response to November’s price increases of 6.

Source: News Formal (newsformal.com)

 

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