As the much-anticipated day of Coinbases’s direct listing arrives, it is perhaps poetic that the for the first time ever, the market capitalization of the cryptocurrency space has surpassed that of Apple.
Overnight saw another leg higher in most of the major coins with bitcoin nearing $65,000 (a new record high).
And analysts think the biggest cryptocurrency has room to run. In a tweet on Wednesday, PlanB, the analyst behind the stock-to-flow family of Bitcoin price models, noted that despite this week’s gains, BTC/USD still has plenty of energy in it.
And as CoinTelegraph reports, for those who consider $92,000 to be overly optimistic, PlanB is not alone in predicting more, not less, vertical movements from Bitcoin in the future. This week, the latest chart showing BTC’s 2021 performance compared to 2013 and 2017 likewise revealed that Bitcoin is in fact behaving “modestly” and not increasing too quickly.