Below is a nice chart of the current market cap of crypto for the last month. One of the most telling factors that makes me believe crypto is about to boom exponentially higher is that the low is about 60 Billion an the high is about 120 billion, meaning the market cap almost doubled in about a month.
I'm not a financial adviser so take what I say with a grain of salt, but this looks very bullish to me. I'm estimating a $600 Billion Market Cap by the end of the year.What do you think? Let me know below.
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I'm gonna go out on a limb here and say that $600 billion is a bit vetoing bullish, but there is no really way of telling. I am more concerned about how the crypto market will be effected in light of another global recession as in 2008. I believe that in the long run crypto would succeed, but in the short term of a recession, we may see a large decline in the overall market, as big money who are the big moves will seek to hold their value in the safest assets. However, many average will look to other ways to earn income, such as Steemit, thus increasing the price of Steem.
So what are the safest assets?
Historically, bonds, gold, silver.
gold, silver, and bonds are conventionally safe, but the concern is that the next crash which will be much more global than all prior could break conventions (old safe havens may not be in play)
Gold and Silver will always keep their Purchasing power longterm. The prices are controlled by the paper markets. I strongly believe that gold and silver must rise sooner than later.
In a Crisis people want to sell paper assets to some tangible assets. Gold and Silver are highly liquid, accepted worldwide and scarce.
Bonds in my opinion are in a bubble. The next crisis will be much worse than Lehman. The central banks will not too much fire power left.
I agree. I am completely fearful of our economic situation right now in the US and the world. The market will react to nothing, just keeps chugging along in an uptrend no matter what bad news is thrown at it. It can't be real!
These are also my concerns. The market cap may rise, yes, as the dollar dwindles in value and people escape into the cryptos.
I think 600 billion by end of year is possible, but I see this as a best case scenario. If you look at your chart market cap growth has stalled for some time after doubling. I think growth will start again but we may have to wait for the market to fully digest the last increase in market cap.
The market needs to recover from this crazy ICO phase we are witnessing. I feel like the bancor and status ICO definitely put unnecessary strains on the ETH network which ultimately hurt the whole crypto market.
http://www.coindesk.com/ico-blues-status-raises-58-million-leaves-buyers-waiting/
600 Billion by the rest of the year would be veeeeeery nice =) I hope so for my depot 😍
I am thinking we may have hit a plateau for the next 6 months or so, maybe longer. Crypto is a good investment, but now may be a good time to consider diversifying.
Thanks for sharing - I think you're on the money (or crypto?), and this whole area is going to explode over the next few months / years.
Everything is possible, crypto market is very volatile and more and more people are interested in market, I think it will just grow.
Sure hope you're "on the money" with this one.
With the interesting problems experienced by many of the exchanges during coin ICOs on Ethereum, do you see the overall market absorbing the shocks, or invester confidence taking a knock?
It has been trending downwards the last few days. I certainly hope it moves back in the other direction soon
Expect the unexpected in the crypto market. Buy, hold, sit back and strap in for the ride, wherever it may take us.
Ya, average is 10B by week. Things started to change early may basically. It's cool but a big market in such a time is not obviously good for the near future.
Btc dominance dumps each week because of alts. Don't forget when buying alts we play against bitcoin, in a same time we need btc & preferably stable. (except for few coins that pair
well with fiat).
What's relevant, right now the market is bearish (june 22 - 0AM gmt, didn't check now at 2 am). only because of BTC. Every time he's about to break a resistance or flirting on the support, the overall market is affected.
We are in an exciting period, :) , but all can suddenly happens particulary in emotional market .
That being said, yes! I'm in & happy
Tehl and SOXL, risky funds but time to be back in!
Do you think that market cap will be double every month or so?
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