Cryptocurrency continues its triumphant March around the financial world – total market capitalization of all digital currencies has reached $500 billion!
According to the Wayback Machine, December 15, 2016, the total market capitalization of crypto-currencies was around $15 billion. Today’s price movements have increased the overall sector is just about 3 to 333% compared with the previous year. We can safely say that anyone who owned a cryptocurrency and still continues, is the winner.
Indicators market capitalization top ten cryptocurrency a year ago:
Bitcoin $12.5 billion Ethereum, $713 million Ripple, $241 million Litecoin, $177 million Monero, $114 million Ethereum Classic, $86 million: $64 million Steem, $41 million MaidSafeCoin, $37 million Augur, $34 million
Today’s list of leaders and their performance are as follows:
Bitcoin $292.7 billion Ethereum, $58.8 billion Bitcoin Cash, $27.5 billion and Litecoin’s $18 billion Ripple, $14.6 billion IOTA, $12.8 billion: $7 billion NEM, $5 billion Monero, $4.7 billion for Bitcoin Gold, $4.6 billion.
A year ago Bitcoin Cash Gold and Bitcoin didn’t even exist, and IOTA was trading at incredibly low prices outside the exchanges. At that time only five cryptocurrency market capitalization exceeded $100 million; today, 23 digital currencies have a market capitalization of more than $1 billion, and to find the currency with a market capitalization of $100 million, will have to fall to 90 of the places in the list.
Many experts, especially representatives of the “traditional financial world” believe that the cryptocurrency market is in an epic bubble. The main bitcoin skeptic Jamie Dimon called bitcoin a bubble, while refusing to short the currency because thinks it can reach $100 000.
Although the cryptocurrency can actually be in a bubble, it is worth remembering that the past bubbles were burst over the years and grew to much larger sizes than expected. Dimon may well be right in his predictions about the price of bitcoin at $100 000. In this case, before the bubble burst, many of you who now reads this article, will be millionaires, and some billionaires.
However, the indications are that it does not bubble, is obvious. Technology tends to follow the so-called “S-curve”: the adoption takes place, first slowly and then exponentially increases almost vertically, and then, having reached mass adoption, again aligned. So if the acceptance of crypto currencies follows an S-curve, then the massive collapse, which many expect will never happen.