Bitcoin, the largest cryptocurrency in terms of market capitalization, will most likely enter next month having a trading price that is significantly lower than its $69,044 all-time high attained on November 10, 2021.

Moreover, its average price for October 2022, which currently stands at $19,443, is nowhere near the $58,051 average it tallied in the same month last year.

To say the highly touted “digital gold” was hit hard by the unpredictable volatility that is known to affect the crypto space is an understatement as Bitcoin continues to bleed.

But even with lower prices and bad performance over the last couple of months, the leader of all digital currencies managed to outrank even the biggest banks in the U.S. including the frontrunner on the list, JPMorgan Chase.

Such a feat is really impressive, considering these financial institutions, more often than not, remain skeptical about Bitcoin and its fellow cryptocurrencies.

Bitcoin Dominates In Terms Of Market Cap

Yesterday, the total market capitalization of Bitcoin reached $374.78 billion, making it the 14th most valuable asset class, according to CompaniesMarketCap.

JPMorgan Chase, a well established financial institution in the U.S. that has successfully earned global reputation, only managed to put itself on the 18th spot with its $349.31 billion market cap.

 

Bitcoin Dominates In Terms Of Market Cap

Yesterday, the total market capitalization of Bitcoin reached $374.78 billion, making it the 14th most valuable asset class, according to CompaniesMarketCap.

JPMorgan Chase, a well established financial institution in the U.S. that has successfully earned global reputation, only managed to put itself on the 18th spot with its $349.31 billion market cap.

 

 

 

 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.