The popular unstable cryptocurrency has more than doubled in it's value this year as investors grow more excited and confident about the hope of being able to buy bitcoin funds, that trade on good old-fashioned stock exchanges rather than having to deal with less-regulated and sometimes dishonest crypto platforms.

As Bitcoin keeps going upward in price. Bloomberg says "this is the start of a fresh crypto supercycle that will push #Bitcoin above $500,000". The price of Bitcoin rose higher Monday to a 19-month peak above $42,000. According to Bloomberg, “Bitcoin topping $42,000 is just the start of a fresh crypto supercycle that will push the world’s biggest token above $500,000 in what adherents say is the new monetary order taking Wall Street by storm.”

Due to this pump up in price Bitcoin is now said to be the the 10th-biggest asset by market cap in the world, with a larger market cap than multiple multi-billion-dollar companies. Its market cap breached $800 billion on Dec. 4, surpassing Berkshire Hathaway on the list of top Assets by market cap. Bitcoin is also ahead of Tesla, Walmart, Visa, and other top companies.

This has put to shame the words of those who has despised crypto currency( Warren Buffett) and also put more joy and happiness on the face of crypto investors, and has made so many people who were not initially interested in the crypto space, to put interest and the desire to explore the crypto space.

This recent rally has brought renewed optimism to the crypto space, but also raised concerns about potential overheating and volatility

As of October 26th, 2023, Bitcoin surpassed $41,000 for the first time since May 2022. This represents a remarkable surge of over 150% since the beginning of the year.This upward price movement has been attributed to a number of major factors, including:

Increased institutional investment: Major institutions like MicroStrategy and Tesla have made significant investments in Bitcoin, and making the asset in the eyes of mainstream finance.

Anticipation of Bitcoin ETFs: The potential approval of Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) could make it easier for investors to gain exposure to Bitcoin without directly purchasing the cryptocurrency.

While the recent surge has undoubtedly brought excitement to the crypto space, it's important to remain cautious. Bitcoin is known for its instability and volatility, and past demonstration have been followed by dramatic crashes. Some experts believe that the current surge could be a bubble, and a correction is about to happen.

The potential impact of this surge on the wider crypto space is also a source of discussion. Increased investor confidence in Bitcoin could lead to further price increases across the crypto space, benefiting altcoins as well. However, a strong Bitcoin could also overshadow smaller projects, hindering their development and adoption.

It is only time will tell whether the current Bitcoin pump will be a turning point for the crypto space or introduction to another downturn. It is very important for investors to cautious and be informed, and make intelligent and informed decision, based on the way the face circumstances and also their risk tolerance