The sweep of cryptocurrencies in the march market crash of the year 2020 and the beginning of 2021 with the crypto market doing at its all-time high is clearly the sign of massive crypto adoption worldwide.
Shortly after the time, BTC surpassed its all-time high of $33,000 at the time of writing the cumulative market capitalization is at $908,072,397,087, which drops to $875,518,295,315, according to data by CoinMarketCap. Undeniably the fact that the parabolic path of the price is at its peak, and it will be interesting to see how long it will be!
Institutional Investors Drive Massive Crypto Growth
The institutions have embraced crypto-currencies from the time it was just initiated, and undoubtedly the major reason behind this is the deprivation of the centralized system. The conditions of the centralized system have translated the new definition of investment and profits.
The crypto-economy touching an all-time high on the first Monday of 2021 is giving good hopes to the global crypto space. Moreover, it will be interesting to see bitcoin dominance in it. And a number of other crypto-assets showing a significant price rise as well. Another good reason for this high adoption is FOMO. The BTC wave has made the Altcoins surge, and people with the least knowledge of the market are now interested in it. Clearly, the fascinating bull of the crypto market has left nobody untouched.
Coming to the possible reasons for crypto-adoption in the context of India then it is seen that investors are way more in a hurry than ever before. As the news stating the Indian govt will impose GST of 18% on cryptocurrencies soon, has put everyone’s mind at work.
After reaching this high, now everyone’s eye for the next target the market will hit. And the behavior of charts will decide the future investments by the investors.