The digital currency Bitcoin is barely aware of any limits after last week's an all-time high of 4183.30 US dollars could be reached. Since mid-July it was discussed whether bitcoin could be divided into two separate currencies. At the same time, the crypt diet could more than double its value. This year alone, the course has quadrupled and in the last two years a price gain of 1500% has been achieved. The explanation Why are all so bullish about a currency that is not supported by any government? First, the split in two currencies, Bitcoin and Bitcoin Cash, ensured that the investors were very happy about the future potential. The majority of the technicians voted for a BIP-91 upgrade with SegWit2X. This upgrade allows you to extract some of the data within the blockchain, the decentralized digital folder for recording transactions, from Bitcoin's main network. This should speed up transaction times and settle invoices. At the same time, this increases the capacity of the Bitcoin network and reduces the transaction fees. In other words, bitcoin is becoming more interesting for companies. The minority, which was against SegWit2X, were Bitcoin mines, We have also seen a significant weakness in the American dollar, which should be very much appreciated by President Trump. A weaker dollar helps to increase exports. Unfortunately, the American currency is depreciated, which the investors do not like to see. When the dollar loses in value, investors buy safe assets like gold, which is a finite resource and a store of value. Since the bitcoin protocol allows only 21 million bitcoins to be mined, this currency is also seen as a finite resource and a secure investment. One can not deny what a bit of bitcoins just have. You see more and more ads for investments in bitcoins, and the attractiveness is very high, since the value of bitcoins is increasing rapidly. This has allowed new money to be lured to the Bitcoin exchanges. Investors should also understand that Bitcoins is not a traditional investment like the stock market. You can buy and sell Bitcoins, but there are only a few exchanges that allow Bitcoins to sell. This could make the price rise faster than on regular exchanges. How the market capitalization of Bitcoin is compared to other assets The market capitalization of Bitcoins based on WorldCoinIndex on the 16 505 312 gembedten Bitcoins rose in the last days to 69 billion US dollar. In 2015, less bitcoins were minted and the course was much lower. As a result, market capitalization at that time was only three billion US dollars. This gives you an impression of how far this crypt diet has brought in a short time. But how does it compare to the gold market, the S & P 500 and the American dollar? Bitcoin or gold? A Bitcoin currently costs a triple of an ounce of gold, which stood at $ 1,290 last week. The news has always pointed out how the bitcoin course leaves the gold course behind itself behind. If we compare the market capitalization, gold still has the front. According to a report by Thompson Reuters from 2013, it was believed that 171 300 tonnes of gold had either already been scourged or would still be in the ground. We get 32,000 ounces per ton, so we are talking about 5.482 billion ounces of gold all over the world. If every ounce is worth about $ 1290, the global gold supply has an implied market capitalization of $ 7.07 trillion. This is more than one hundred times the market capitalization of bitcoins at the all-time high. It should also be noted that there are numerous reports with different data on global gold supply. In some, it is suggested that there could be even 2.5 million tonnes, which is more than 14 times that of Thompson Reuters. Thus, the market value of gold would amount to 103 trillion US dollars, which corresponds to almost 1500 times the market value of all bitcoins. Long story, short: Bitcoins still have a lot of catch up. Bitcoin in comparison with the S & P 500 The market capitalization of Bitcoin is also significantly lower. The S & P 500 consists of over 500 companies, many of which are the largest American companies after market capitalization. According to data from SiblisResearch.com, the S & P 500 had a market capitalization of $ 21.83 trillion on June 30, 2017. Since the end of the second quarter, the index has risen by almost 1%, suggesting that the total market capitalization has already reached nearly 22 trillion US dollars. That would be about 319 times Bitcoin. The largest American share, Apple (WKN: 865985) is already clearly worth more. On Friday, August 11, Apple had a market capitalization of $ 813.4 billion, almost twelve times more than Bitcoin. Apple ended the last quarter with a cash reserve of 261.5 billion US dollars. Much of this money is spent abroad, because Apple does not want to be taxed for the return of money. Apple could buy all Bitcoins, Ethereum, Rippel, Bitcoin Cash and Litecoin, the five largest cryptic credits after market capitalization, and would still have 152 billion US dollars left. Why should Apple do something like that? Of course they do not. The company is focused on returning funds to shareholders and investing in new technologies. This is only to illustrate how tiny bitcoin is compared to a titanium like Apple or the S & P 500. Bitcoin compared to the American dollar Let's take a look at how Bitcoin is striking against the American dollar. According to figures from the St. Louis Federal Reserve from July 2017, the money base amounted to 3.8 trillion US dollars including coins and deposits. The money has more than quadrupled since the financial crisis and is currently about 55% bigger than Bitcoin, even after the current bull rally. Keep away from Bitcoin and related investments Despite the current strength, the author of this text is of the opinion that one should keep away from Bitcoin. Without fundamentals that could be analyzed, it is very difficult to determine a fair value here. We have seen how many assets have gained in value over time. In almost every case there was a bubble. My suspicion is that Bitcoin will not be any different, and badly informed investors could quickly burn their fingers here. Even the only investment option in Bitcoins on the stock market is highly overvalued. The Bitcoin Investment Trust (WKN: A14S73) is an ETF currently holding approximately 173 014 bitcoins (as at 31 July 2017). Due to the current price increases, the market capitalization of these bitcoins is now over 700 million US dollars. The Bitcoin Investment Trust had a daily closing price of 1.05 billion US dollars last Friday, a premium of almost 50% on the course. This is madness! Almost as crazy as the annual fee of 2%. The underlying blockchain technology could become very interesting in the future, after it has already been tested on a small scale. The current value of bitcoins, however, makes little sense.