On this day, exactly one year ago, Bitcoin saw one of its worst trading sessions in history. The cryptocurrency lost around 50% of its value and tapped a low at around $3,800. That’s also true for every altcoin, as well as for the traditional financial markets.
Nevertheless, it’s safe to say that the cryptocurrency market has come a long way since then. In fact, this was the absolute bottom in the cycle, and it has been up only ever since. Now, 365 days later, Bitcoin’s price is trading at around $56,000 for a massive increase of around 1400%. Its market cap sits well over $1 trillion. That’s right – Bitcoin is a trillion-dollar asset! Its all-time high now rests above $58,000.
This became possible thanks to some massive milestones that we saw throughout 2020 and 2021. MicroStrategy, a public-listed company, spearheaded by arguably one of the biggest BTC proponents, Michael Saylor, invested billions in the cryptocurrency. Many followed his example, but the cherry on top of the cake was Tesla’s $1.5 billion BTC buy in January. That’s right – arguably the most popular company in the world, led by one of the richest men in the world, Elon Musk, bought Bitcoin!
This, together with the halving that took place in May 2020, saw the cryptocurrency grow exponentially, taking the entire market with it. Institutional involvement is no longer questionable – it’s a fact. Major banks have started to change their opinion on Bitcoin and are now looking to offer related services to cater to the tremendous demand.

Story continues on Crypto Potato

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