It' s been excited for hours after the bullish increasing in the price of BTC few hours ago before dropping down again to $-17K.
[*1]
Eventhought its Market cap hit a very high point but this hit point didn't make its price touch or break the all time hight record at $-20K as of 2017.
The Market cap is from the Closed-Price x Number of Shares, this reflects the intention of investors to the market. The number of Market cap should get along with the price, it reflects each other , but sometimes not.
Regarding to the history [*3], by the end of 2017 there were 16.5M of BTC mined. And in 2020 ,it is currently 18.5M BTC in circulation. It is 12% increased in the BTC supply to the crypto market.
As we know, the market dynamic relying on the Demand & Supply mechanism. Adding more supply to the market without enough Demand can not make the price move.
[*3]
It is already too high on the BTC supply of 16.5 M since 2017 and after that there were more BTC supplied to the market with low Demands rate.
This should be one of the factors causing BTC price does not move along with the increasing in its Market cap. And this is just my one opinion in this current circumstance, now soon it possibly be hit over the ATH record if people pay more attention on the importance of BTC and extremely put their needs into BTC.
However , as per the Market cap number of this year and halving in the BTC. We may propbably see the hit and breaking the ATH record soon.
