Analysis: Bitcoin Price Needs to Reach $93,000 for Market Cap to Surpass Silver Again
PANews reported on May 20, according to Cointelegraph, since Bitcoin reached a record high of $73,737 on March 14, the market value of silver has increased by 33.4%, while Bitcoin has retreated by 9.5%. The market value of silver is currently $1.83 trillion, $500 billion higher than Bitcoin, which currently has a market value of $1.31 trillion. This means Bitcoin would need to rise by 40% to $93,000 to surpass the current market value of silver (assuming other factors remain constant).
According to Trading Economics data, gold has also performed well, rising by 22.4% since February 13, with its current market value at $16.392 trillion.
Disclaimer: everything in the article represents the author's point of view and has nothing to do with this platform. This article is not intended to be used as a reference for making investment decisions.
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