Bitcoin in the $70,000 zone: fiction or reality

Bitcoin in the $70,000 zone: fiction or realityFrom the point of view of technical analysis, the BTC correction, which has been dragging on the market for almost two years, is a logical compensation for the frantic growth of 2020-2021. So what are the crypto bulls hoping for?It is generally accepted that the value of Bitcoin is strictly related to its limited supply, the presence of institutional investors in the market, and the demand/supply correlation. Alas, analysts oversimplify the situation and forget about an important classical factor.Price of any token is inextricably linked with the total capitalization, that is, with the amount of real money invested in the crypto market. Recall the scale of traditional exchange assets: capitalization of the US stock market ~ $150 trln; US market share in the global stock market ~56%; capitalization of the world stock market ~$300 trln.And now let's look at the capitalization of the crypto market: 2013  $15 bln 2017  $750 bln; 2021  $3 trln.That is, over the past 4 years, we have observed a 4-fold increase in the capitalization of the cryptocurrency market, an increase in the price of bitcoin by 3,5 times  from $20,000 to $69,000. Any newcomer can notice the objective relationship between the growth of market capitalization and the growth of the price of bitcoin.The growth of capitalization is a cyclical process associated with the issuance of USD, which will continue both in the form of fiat currency and digital form. And judging by the current US monetary policy, the markets will be rapidly filled with new dollars.When the capitalization of the cryptocurrency market in the next cycle exceeds $3-3,2 trln, the price of bitcoin will return to the $70,000 zone and once again instil in the minds of the majority the feeling of FOMO and the desire to buy at the peak of the price.And if in 2017 there were many fantasies about Bitcoin at $100,000, now this idea does not seem like something fabulous. We will wait.Profits to yall!#ForexChief #Bitcoin #stocks #Market #forexnews #blockchain #worldnews #crypto