Bitcoin, the most popular digital asset on the world, has surpassed both Meta Platforms Inc. and Mastercard in terms of market capitalization. Yesterday, the price of the well-known digital asset surpassed $19,000, signaling a recovery to begin the new year.
BTC has had a pleasant bounce in January, inching ever closer to a $20,000 price tag, and rebounding from an awful 2022. Moreover, the emotion surrounding cryptocurrency has enabled it to surpass the market value of two prominent companies.
Bitcoin Continues 2023 Resurgence
You can’t say enough about how terrible 2022 was for the cryptocurrency industry. Prices fell because of changes in the economy as a whole, and the industries found a lot of bad actors, which led to platforms falling apart.
So far, 2023 has been a different story. Many cryptocurrencies are already making money to start the year. Since then, Bitcoin has been one of the most encouraging signs of a return to normal. The price of the most well-known cryptocurrency on the planet has gone back up from the terrible $16,000 level it hit at the end of 2022.
Currently, Bitcoin has a market value of $370 billion, whereas Meta and Mastercard have respective market capitalizations of $357.69 billion and $363.03 billion. The impact of yesterday’s US CPI report is undeniable, since the decline in the inflation rate has had a positive impact on the crypto market thus far. However, only time will tell where the market goes from here.
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