$56.3K Bitcoin price and $1T market cap signal BTC is here to stay

$56.3K Bitcoin price and $1T market cap signal BTC is here to stay


As Bitcoin (BTC) price pushed above $55,300 in the morning trading session, its market cap surpassed $1 trillion for the first time on Feb. 19. The breakout continued throughout the day and within the past hour BTC price hit another all-time high at $56,368. 

Now that Bitcoin has cemented its status as a trillion-dollar asset among the likes of Amazon, Apple and Google, legacy banks are showing increasing interest in offering cryptocurrency custody services for their customers.

BTC/USDT 4-hour chart. Source: TradingView

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According to Treyce Dahlem, an analyst at TheTIE, social media conversations including ‘Bitcoin’ as a keyword have increased by 38% since Feb. 18. More than 102,000 tweets have been sent out in the past 24-hours, and this is only “30,000 tweets shy of setting a new record high.”

Dahlem said:

“The number of Twitter users talking about Bitcoin on a daily basis has reached a new all-time high of 38,500, up 325% from a year ago.

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