Bitcoin Market Cap Benchmark Coincides with Physical ATM Presence Numbers

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Bitcoin

There seems to be no stopping this current Bitcoin rally, and amid the rejoicing as BTC tops $10,000 and keeps running, there are also some other interesting benchmarks being reported today.

One is the $200 billion market cap that Bitcoin now enjoys – another signal that it is achieving aspects of its past grandeur.

“In a further milestone, Bitcoin’s market cap now sits at over $200 billion, a figure not seen since earlier last year,” writes William Suberg in Cointelegraph today examining recent bullish behavior.



Suberg also mentions yet another number – a market dominance figure of 60%, which is unmatched since 2017.

Not too long ago, as Bitcoin value was down in the dumps, we were talking about an “altcoin season” – now, with BTC soaring, investors are coming back to the fold. More people are talking about long-term Bitcoin values – and Bitcoin is up another 5% today, to trade at around $11,200 and it seems to be still rising.

Even many of those who were more enthusiastic about Bitcoin in general thought that it would settle at around $8,000 to $10,000, but sustained rally activity suggests it could coalesce around a much higher number.

For what it’s worth, other coins are also experiencing gains, including Ethereum up 2% and Ripple also up 2%, but Bitcoin, the most familiar household name in crypto, is taking the limelight.

Another interesting correlation is the physical emergence of Bitcoin ATM machines globally.

In analysis yesterday, CoinATMRadar confirmed that the total number of Bitcoin ATMs around the world has reached over 5000.

In 90 countries, these machines stand ready to allow the common user to buy or sell Bitcoin, just like you would remove cash or buy an airline ticket.

Experts cite the rapid pace of installations and a deal with Coinstar, a vendor that is already in many U.S. supermarkets, as evidence that BTC is going to become much more a part of our lives.

“Crypto is the trendsetter of 2019,” writes Amrit Mirchandani, commenting on another daily Cointelegraph piece covering the Bitcoin ATM phenom.

By any measure, Bitcoin is outstripping prior estimates.

That’s exciting for the buy and holders, and significant in the landscape of how we will view Bitcoin value changes at the end of this year and beyond.

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