Kraken Digital Asset Exchange announced that the price of bitcoin and the total market cap for digital assets are each shattering previous records.
Bitcoin was over $1500 yesterday, while the digital assets total market cap was nearing the $40,000,000,000 mark. These numbers represent new all-time highs for an industry that is becoming increasingly popular among a wider spectrum of people.
Chart courtesy of CoinMarketCap
Bitcoin market cap has grown by about 70% since March 24th, which is a sign of the coin’s resiliency, especially after the polarized discourse about a possible hard fork and news about the ETF’s initial rejection came to light. Growth of the total altcoin market cap is also worth noting, as it grew by over 100% in the same period.
Fluctuations in market share and price among digital assets are common and expected at times, and shouldn’t deter you from participating. However, risk management is always important and the recent broad-based growth does give reason to consider a more diversified approach.