Bitcoin (BTC) hit yet another all-time high on Feb. 19 as the largest cryptocurrency set its sights on becoming a trillion-dollar asset.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Another day, another Bitcoin record
Holding $50,000 support over the past two days, Bitcoin was primed for further gains in the short term, analysts believed, with one area in particular capturing hodlers’ imagination.
At around $53,600, Bitcoin’s total market cap will pass $1 trillion for the first time in history.
“It is simple. In the old world your money loses value, because governments debase currencies to fund their warfare & welfare state,” quant analyst PlanB summarized on Friday.
“In the new world #bitcoin increases in value, because math caps the monetary base at 21M BTC. The new world is eating the old world right now.”