Bitcoin Passes $1 Trillion

This week, the market capitalization of bitcoin topped $1 trillion for the first time. The popular cryptocurrency reached an all-time high of $56,399.99, an increase of 70 percent over the past month. So, what is the future for bitcoin? At this point, analysts are split, with some saying it could reach $200,000 and others arguing that the cryptocurrency is overvalued. One thing is certain: Bitcoin is expanding to mainstream investors, including Tesla, Mastercard, and BNY Mellon. Of course, with this more widespread acceptance, bitcoin's price has become more cyclical, meaning that it is less useful as a diversification asset.