Global Stock Markets Lose 694,573,873 Bitcoins This Week
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Answer Global Stock Markets Lose 694,573,873 Bitcoins This Week
After the shock of the Corona virus, I lost Global stock markets nearly $6 trillion worth in a week.
Stock markets and their comparison with Bitcoin
The stock market is a centuries-old and highly developed system dealing with trillions of dollars in value.
Last week’s sudden collapse smashed nearly $6 trillion in just a few days, after a wave of panic over fears of an economic slowdown and recession.
The rapid drop in the indicator is massive compared to the volume of Bitcoin trading.
A rough calculation estimated that the stock market lost 694,573,873 bitcoins.
The stock market dropped 694,573.873 bitcoins in one week.
Read:Bitcoin and cryptocurrency prices fall after Facebook’s cryptocurrency hearing before Congress
– Blockfolio (blockfolio) February 28, 2020
Of course, the total supply of Bitcoin will be only 21 million blocks, which means that the stock markets lost 33 times the total supply of Bitcoins.
Stock markets reflect massive economic activity, and this is a sign that in cases of broader adoption of Bitcoin, the leading cryptocurrency may represent a more important value.
Currently, bitcoin trading is relatively small compared to stock markets, with bitcoin trading at $43 billion per day.
Real liquidity may be lower.
But if bitcoin starts trading on par with more traditional assets, there are higher limits to its potential valuation.
Bitcoin could have a fancy price based on traditional asset estimations
The New York Stock Exchange boasts companies whose total value is estimated at nearly $30 trillion.
To reach this kind of value, bitcoin would have to cost more than $1.5 million per coin, which is a rather odd valuation.
Bitcoin’s market capitalization is now mid-range, not even close to the tech giants estimated to be worth around $1 trillion or higher.
Read:On the Binance platform … an investment fund manager’s account was hacked and investors’ funds were frozen
So the potential upside for bitcoin is of great importance if the asset starts to emerge as a prime investment.
The huge discrepancy in the valuation of money shows the long-term potential and potential for Bitcoin to become one of the world’s most important financial assets.
newly Tweet embed Making a stock market video showing closely related to # bitcoin (From a macro perspective) I have to agree with Sunny on this. Tweet embed Provide a response video that shows it #BTC Not completely related. This is also true. (continuation of the tweet)
Read:What drives Bitcoin to reach and breach the $50K level?
– Kevin Svenson (@KevinSvenson_) February 29, 2020
Bitcoin’s relationship to the stock market is somewhat paradoxical.
Bitcoin sometimes sucks liquidity from enthusiastic traders who have fears of a recession and follows the general trend of the stock markets.
In some cases, Bitcoin rises during times of crisis, as a compensation for falling stock indices.
Bitcoin itself is so volatile that most people classify it as a “high risk” investment.
Read also:
New FBI Report: Bitcoin Malware Attacks Estimated at $144 Million
What if Warren Buffett invested in Bitcoin instead of investing in Bank J. B. Morgan” … Learn about the result of his investment
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