From $190B to $735B in one year
2020 has been a very successful year for the crypto market, unlike many other markets. Much of the markets have hurt a lot due to the on-going crisis in the world. In January of 2020, we started with a market cap of around 190 Billion USD. In the last weeks of December, we reached an all-time high crossing over 750 Billion USD total market cap. The driving force of the market cap is the big surge in Bitcoin price, which reaches a new all-time high of over $27,500 on Coinbase. Back in 2018, we marked the highest market cap in crypto history, sitting at just above 760 Billion USD.
It is very likely that we will see a new all-time high in the market cap right before New year. If it does not happen that early, we will hopefully see it in early 2021. If we just take a quick look back to 2018 we can see that the Bitcoin pair of many alt-coins was also at an all-time high. Today we see most of the top currencies like Ethereum, Litecoin, and Ripple sitting far from all-time highs. A small increase in those pairs could lead to a massive increase in the market cap due to the Bitcoin Price.