Bitcoin Market Cap Surpasses $1 Trillion — Analysis, 22 Feb

Bitcoin’s market capitalization has surpassed $1 trillion — a decisive psychological threshold that was unimaginable just 5 or 6 years ago. One of the reasons behind the substantial price increase is the start of the institutional investors’ phase — a period when big hedge funds, banks, and investment companies start entering the market. For example, last week, Rick Rieder, BlackRock’s Managing Director, announced in an interview on CNBC that they had begun “to dabble a bit” into Bitcoin:Source: TwitterHowever, Reider didn’t reveal how much money the largest asset manager in the world would invest in crypto.Nevertheless, this is just the beginning of the institutional investor’s phase of this bull trend, and a lot of money is going to flow into the crypto world. As Binance CEO Changpeng Zhao (CZ) mentioned in his recent interview on Bloomberg, “this is just a reflection of how mainstream Bitcoin has become” and according to him, “we’re just seeing the tip of the iceberg.” Cryptocurrency enthusiasts highlighted that, so far, just 11 big companies (including Tesla and BlackRock) have entered the market — a tiny portion of all those 350,000 companies around the world that are potential Bitcoin buyers. Therefore, CZ said he wouldn’t be surprised if BTC reaches $1 million or even $10 million in the long run.Meanwhile, Ethereum co-founder and Cardano creator Charles Hoskinson congratulated the crypto community on the $1 trillion Bitcoin market cap, which he defined as a signal that crypto is here to stay; he also believes that the blockchain revolution is already inevitable.After another extremely positive week, the Monday market starts with a price pullback. At the time of writing, according to Coin360.com, one Bitcoin costs €44,491.33 (-6.31%), one Ethereum — €1,480.85 (-8.91%), and one LINK — €25.63 (-10.29%):Source: Coin360.com (Daily crypto market performance)Now let us analyze the price…