Price Analysis 7/3: BTC, ETH, XRP, BCH, BSV, LTC, ADA, BNB, EOS. CRO
Cointelegraph
Published Jul 03, 2020 03:12PM ET
Updated Jul 03, 2020 06:00PM ET
Tesla’s market capitalization has surged from about $76 billion at the start of 2020 to $224.18 billion at market close on July 2. This unending rally has also made it the largest car company in terms of market capitalization, even though it produces only a fraction of cars compared to the second-ranked Toyota motors. One of the reasons for the sharp rise in Tesla’s stock is investors’ expectation that the company will disrupt the cars running on fossil fuel.
Similarly, Bitcoin (BTC) and altcoins are likely to disrupt fiat currencies and gold over the next few years. However, the current price of the top-ranked asset on CoinMarketCap does not capture this change. This shows that the crypto space is still in its early days of development and as the space matures cryptocurrency prices are likely to rise higher.
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Written By: Cointelegraph
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