BTC market cap is higher than Berkshire Hathaway
Warren Buffett's brainchild, the holding company Berkshire Hathaway, was inferior in terms of market capitalization to the first cryptocurrency. This happened against the background of BTC approaching a new strategic mark of 30 thousand dollars
The explosive interest in cryptocurrency has affected the volume of transactions. This figure is the highest since 2018. This means that many investors enter the market. This fact can be traced back to the figures from the Digital Assets Data resource.
According to the site, the volume of transactions in December reached the second highest indicator in the history of cryptocurrency. In the last day of the outgoing 2020, the current volume of $252.37 billion, competing with December 2017, may become even higher.
BTC transaction volume chart (30 days)
In addition to trading volume, an increase in interest in cryptocurrency is also indicated by the size of unprocessed transactions in the BTC mempool as well as increased fees for money transfers.
The number of wallets containing large and medium amounts on accounts continues to grow. Their number has increased to an unprecedented level.
In Google Trends, the demand for Bitcoin is overwhelming globally. This figure is now higher than in any other period since February 2018.
Bitcoin is currently trading at $28,933.90 with a market cap of $539 billion on December 30, it rose above financial giant Berkshire Hathaway.
As a reminder, in May 2018, Buffett called BTC “rat poison squared”. Well, now he has no time for jokes.
BTC vs ETH
Despite the huge difference in the price of tokens, the Ethereum platform has shown a 500% gain since the beginning of the year compared to the March 2020 lows. During this time, Bitcoin grew by only 290% in terms of annual profitability.
BTC ETH yield chart
This issue is actively discussed on Twitter. Bobby Ong spoke about what to expect from the crypto market in 2021. According to him, Ether will face high commissions and a new all-time high.
“ETH will overcome its $1,500, mostly through DeFi. Gas charges will rise again and this will highlight scalability issues, ”he wrote.
“Most of the year will be spent coordinating a Layer 2 scalability solution. My bet is that ZK Rollup will pick up steam by the end of the year. "
For BTC, Ong predicts a move towards $100,000, along with the launch of an exchange-traded BTC fund and the addition of Bitcoin to the balance sheet by the first central bank.
2020 has zoomed by so quickly and it's time for me to give my predictions on the crypto markets in 2021. So here we go my predictions on what I think will take place next year:— Bobby Ong (@bobbyong) December 30, 2020