The predicament of the common man when BTC crosses $72K

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BTC hits another ATH crosses $72000

Bitcoin is the darling of crypto investors with 1 BTC crossing $71K , and then $72000
It is cryptos knight in shining armor that stays unbeaten and unconquered by the governments of the fiat world.

It seems just yesterday that BTC made news when it topped 35K
Now the current price of a bitcoin north of $72000 makes 35K look like a more than 50% discounted bargain.

While ETF money and purchases by the big players is making BTC achieve one All time high after another it remains to be seen how the alt coins, ETH and layer two coins of ETH respond to this move of Bitcoin.

Looking at the numbers the target of $100000 seems only 28000 away and who knows it may be taken out before BTC witnesses any meaningful correction.

Bitcoin flipped Silver in terms of marketcap

Silver has a price of $24.52 and a market cap of $1380 Trillion.
Bitcoin made news by exceeding this market cap as it reached its all time high
From here the market cap of BTC sits at number 8
If it keeps increasing in market cap it could very well overtake Google that has a market cap of $1688 T
Google sits at number 7 in terms of market cap.

Amazon at number 6 with a market cap of 1821 T
Saidi Armaco with a price of $8.5 and market cap of $2055T is at number 5

NVIDIA sits at number 4 with a price of $875 and market cap of $2188T
Apple happens to be at number 2 with a price of $170.33 and market cap of $2636 T

Microsoft is at number 2 with a price of $406.22 and market cap of $3028T

Golds sits at the top of the list with a price of $2184 and a market cap of $14668T
source

Bitcoin as an asset is easier to store than a stock of a listed company and does not even require the same kind of space that is required by gold.

There are plenty of triggers that would help the price and market cap of Bitcoin march ahead and move towards the market cap of gold.

Some of the events that keep helping Bitcoin outperform and make it shine and outperform so many asset classes is large purchase orders such as
MicroStrategy Successfully raised $800 million to buy more bitcoins. Microstrategy Acquired 12,000 #Bitcoin for $821.7M in cash
This kind of fund flow is quite likely going to pump up the price of BTC even more.

Countries like India have no access to the US ETF. However it is reported that a crypto investment platform called Mudrex is going to offer the U.S bitcoin ETF to both retail as well as institutional investors who are situated in India.

Mudrex is backed by the much reputed Y Combinator and it even has a subsidiary registered in India with the Financial Investigation Department of the country with the largest population.

Initially they would be listing ETF's from
i) BlackRock
ii) Fidelity and
iii) Franklin Templeton

As per a report the LSE (London Stock Exchange) is going to soon start accepting applications for exchange traded notes that are backed by BTC and ETH
These options would make the BTC and ETH as assets available to investors.

The road to $100000 per BTC or higher market cap would not be a straight line. There would be plenty of dips and corrections giving both traders and buyers opportunities to get in.

what happens to retail and small investors?

For those who are on the sidelines BTC is clearly going out of reach with every all time high (ATH) levels it hits.

Those who hold some BTC & ETH may want to take profits when their targets are met, however with so much money waiting at the sidelines it would be difficult for them to pick a level to re-enter.

Not every investor has the skills to understand how smart money moves and what to do with the almost tiny capital he has as compared to the big names like the BlackRock's of the world.

Posted Using InLeo Alpha

Posted Using InLeo Alpha