bitcoin 2018 august

Well, let’s take a look at the relevant data. Current price: $7,099.

Current Market Cap (Price x 24 Hour Trading Volume) – $122,329,013,094. $122 Billion worth of Bitcoin has been traded in the last 24 hours. That seems quite a bit like “not dead”, I’d say.

Bitcoin (BTC) price, charts, market cap, and other metrics | CoinMarketCap

And if Bitcoin were dead – chances are high that institutional investors would not be pouring billions of dollars into it.

Coinbase Reportedly Secures $20 Billion Hedge Fund Through Its Prime Brokerage Services

Hedge Fund Billionaire Steven Cohen Is Getting into Crypto – CoinDesk

And various derivative products wouldn’t be enjoying so much success, if Bitcoin were dead … or dying … or even had a severe case of the sniffles.

CBOE Saw Its Highest-Ever Bitcoin Futures Volumes Yesterday – CoinDesk

Bakkt Crypto Trading Platform, Coinbase Exchange and Institutional Investors

GBTC – Bitcoin Investment Trust – Invest in Bitcoin with Grayscale

And Bitcoin-only investment firms wouldn’t be making so much money that they’d have to figure out some way to spend it.

Crypto Exchange BitMEX Rents World’s Most Expensive Offices in Hong Kong

Just because the market has been down a bit (pun fully intended ….) compared to a few months ago — that doesn’t mean that Bitcoin, and related profit opportunities – are not alive and kicking — because they are.

The crypto bear market has been a blessing for this bitcoin trading firm’s booming new business

And some people look at Bitcoin’s $7,000-ish price now, and say “but wait – Bitcoin was $20,000 right before New Year’s!” Very true – and some unfortunate people bought into the bubble at that time. However, a year ago today, Bitcoin was selling for $4,382 – making $7,000 a nice return on investment.

Two years ago today, Bitcoin was selling for $574 – making $7,000 that much better, as a return on investment. Week over week, or month over month views of Bitcoin may cause rumors of its death to be greatly exaggerated.

Year over year – Bitcoin seems to be alive, well and thriving. Which is why we’re starting to see billions of dollars of institutional money flow into Bitcoin.