Bitcoin's Market Cap is Now Bigger Than JP Morgan & Bank of America
Bitcoin experienced a dramatic fall in 2022 after it slipped from $35,000 in early January to $19,000 in October. BTC is down nearly 50% this year and is trading backward for 10 months straight. The ongoing market conditions have hit both stocks and cryptos sending them tumbling to new lows. However, despite the harsh bearish conditions and increased selling pressure, Bitcoin’s market cap is withholding amid adversity. Also Read: Bitcoin Could Drop Massively in Price From $19,000 Levels As of today, Bitcoin’s market cap stands at $370 billion and is classified as the 14th most valuable asset in the world, according to data from CoinMarketCap. Bitcoin’s market cap is higher than traditional banks such as JP Morgan and Bank of America. While JP Morgan’s market cap stands at $349 billion, Bank of America’s market cap is at $280.27 billion. Bitcoin’s market cap is much ahead despite several crashes the markets experienced this year. Sou...