Bitcoin would need to hit $93,000 to flip silver right now.
Silver has staged an impressive rebound against Bitcoin (BTC) this year, surpassing the cryptocurrency as the eighth-largest asset by market capitalization after losing a position in March.
The world’s second-most valuable metal has rallied 33.4% since reaching a record $73,737 on March 14, while Bitcoin has rebounded 9.5%, according to CoinGecko.
As a result, silver’s market capitalization is currently $1.83 trillion, $500 billion more than Bitcoin, according to Company Market Cap. This now amounts to $1.31 trillion. Otherwise it stays the same.)
Bitcoin is currently the 9th largest asset in the world, behind gold, Microsoft (MSFT), Apple (AAPL), NVIDIA (NVDA), Google (GOOG), Saudi Aramco (2222.SR), Amazon (AMZN), and silver.
Gold prices also stood out, rising 22.4% since February 13, according to Trading Economics. The current market capitalization amounts to $16.4 trillion.
Industry experts are divided on how the price of Bitcoin will move after hitting an all-time high last March.
Bitcoin analyst Dylan LeClair has previously pointed out that Bitcoin tends to double within a few months after reaching new highs. Especially around the halving event. However, Bitcoin’s market cap is currently much higher than it was in 2020, 2016, and 2012, making this achievement more difficult.
Galaxy Digital founder and CEO Mike Novogratz said Bitcoin will likely remain in a “consolidation phase” between $55,000 and $75,000 over the next month, with a rise likely until the end of the second quarter.
Analysts at cryptocurrency trading platform Bitfinex predict that Bitcoin could reach $150,000 within the next 12 months.
Many industry experts cited spot Bitcoin exchange-traded funds and post-halving effects as the main drivers for these high predictions.
Related: Bitcoin’s 2023-2024 growth rate is expected to surpass Microsoft’s within a year.
Bitcoin’s market sentiment score is currently 70 out of 100, which equates to “greed” on the Crypto Fear and Greed Index.
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