5 Bitcoin Rivals That Are Rapidly On The Rise
5 Bitcoin Rivals That Are Rapidly on the Rise Bitcoin prices peaked at an all-time high of over $11,800 Sunday in one of the most dramatic value surges of any asset in living memory . Todays prevailing digital currency was worth just $12 in 2013 , and has at times been dismissed as an internet fad favored by nefarious wheelers and dealers trying to circumvent taxes or the law. Like it, love it, or confused by it, bitcoin and other cryptocurrencies have become impossible to ignore. Chicagos two main exchanges , the Chicago Mercantile Exchange and the Chicago Board Options Exchange have announced plans to launch bitcoin futures contracts, and the U.S. Commodity Futures Trading Commission has already given them the green light. Nasdaq may be jumping into the bitcoin futures race as early as second quarter next year, Bloomberg reports. Bitcoin advocates are hoping the exchanges can help stabilize the highly volatile currency. Cryptocurrencies provide a digital alternative to government-issued fiat currencies and can be used in online marketplaces to buy everything from a cupcakes to plane tickets to cyber pets . While bitcoin remains both inconveniently slow (transactions can take upwards of 10 minutes) and risky (buyers cannot set a price until the day of the transaction, leading to wide fluctuations), some say its already safer than certain foreign currencies, such as Venezuelas bolvar . Thats because Bitcoin is protected from fraud and counterfeit by technology called blockchain an encrypted ledger system that records transactions accepted by consensus of asset managers. The Atlantics Derek Thompson summarized bitcoin as a frankly terrible currency built on top of a potential transformative technology, one that could have the power to change our conventional understandi Continue reading >>
Is A $50 Billion Market Cap For Ethereum Feasible?
Is a $50 billion market cap for Ethereum feasible? Its possible, but I expect it would happen 510 years down the line. Since ether is most commonly purchased with cryptocurrencies instead of legal tender, its value is inextricably linked to the price of bitcoin. Bitcoins market cap is approaching 9 billion this week, Ethereums is a little over a billion. Assuming the ratio of these market caps remains constant (I personally think its going to decrease as ether is more widely adopted), bitcoins market cap will have to rise to almost half a trillion. This will not happen until Bitcoin undergoes a true mainstream breakthrough. Someone could also build a show-stopping decentralized app on Ethereaum which could lead to ether dethroning bitcoin. I dont think this will happen for a while. There are certainly a lot of promising Ethereaum projects in the works, and ethers value ought to rise as they come online, but the technology is still in its infancy and it will take time for these projects to be fully realized. I think its wise to go long ether, just have realistic expectations about when the big payoff will arrive. Continue reading >>
Can Ethereum's Price Ever Hit $10,000? A Market Cap Perspective For Eth
Can Ethereum's Price Ever Hit $10,000? A Market Cap Perspective For ETH Given the sporadic and often unpredictable nature of cryptocurrency, many new traders turn to social media for answers. And its no wonder why: With the meteoric rise of cryptocurrency in the last two years, new investors are wondering if they can make massive returns and buy a castle in the Bay Area. People tend to take price predictions as gospel and make poor decisions based on even the most tempered recommendations. A big topic of cryptocurrency speculation at present is the future of Ethereum (ETH). Will Ethereum ever reach $10,000? My answer is simple: I dont know, and Im not going to tell you that it will. But what I will tell you is how to figure this out for yourself by understanding market capitalization. Market capitalization goes a step beyond price to give more context to the total value of a cryptocurrency. Youve likely heard that Ethereum is worth many billions of dollars (depending on the day). The way to calculate this figure is by looking at the circulating supply of ETH (as of this writing, roughly 97 million tokens) and multiplying it by the coins price (around $950). In the last week, the market capitalization of all circulating ETH is around $92 billion. Even if cryptocurrencies seem unpredictable today, every asset must reach some value plateau. This normalization happens when the market has been saturated and every player has their say. Eventually, cryptocurrencies will reach this point. The reason market capitalization is useful is because it can allow us to make comparisons across different types of asset classes and to extrapolate future cryptocurrency prices. Below is a short list of common assets by market capitalization: Market Capitalization of Apple (Largest Business) Continue reading >>
Is It Possible That Ethereum Is Not In A Bubble?
Is It Possible That Ethereum Is Not in a Bubble? By Nathan Reiff | November 15, 2017 10:00 AM EST Hydropower: The Key to Bitcoin Mining in the Future? Despite ethereum's meteoric rise in 2017, some experts say it is not in a cryptocurrency bubble. The cryptocurrency space has grown at an astonishing rate in 2017, and ethereum is a prime example. The world's second-largest digital currency by market cap started off the year at just $8 per coin. As of this writing, it is hovering around $333 per coin. This is a gain of nearly 40 times in the span of less than 12 months. By many analysts' estimates, ethereum may be a sign that the cryptocurrency world more broadly is in a bubble. (See more: Ethereum Founder on ICOs: "We Are in a Bubble, A Lot of Projects Will Fail." ) The fact that bitcoin keeps setting new price records and that numerous other cryptocurrencies have made similar gains only adds fuel to the fire. And yet, a recent article by Forbes suggests that ethereum may not be part of a bubble. Although ethereum, bitcoin, and other leading digital currencies have made tremendous gains this year, by some measure they are actually in a bear market . This is because several of these cryptocurrencies have dropped about 20% from a 52-week high. This is one factor that supporters of the movement point to as a sign that ethereum may not be in a bubble. Although the cryptocurrency market climbed to roughly $200 billion in market cap this year, that still pales in comparison to the tech bubble of the early 2000s. The tech bubble grew to about $1.7 trillion before it burst. By comparison, ethereumappears relatively tiny considering its total market cap hovers around $30 billion. Sizing ethereum up against other markets also shows that it's not so big. The U.S. market for rare c Continue reading >>
Ethereum And The Importance Of Anti-hype
Generally, the consensus among blockchain enthusiasts is that Ethereum will be the platform that powers Web 3.0. However, Ethereums developers, including its founder Vitalik Buterin, are characteristically muted when talking about their creations potential. Last week, one of Ethereums top developers even tweeted the following: Still not safe or scalable Vlad Zamfir (@VladZamfir) January 4, 2018 This frankness runs contrary to many others in the cryptocurrency space and is perhaps one of the reasons that Ethereum has performed well in recent weeks, as the wider market has been gripped by particularly volatile price swings. Over the Christmas period, the cryptocurrency world was gripped by Ripples extraordinary rise from around $0.2 in late November to highs in excess of $3 in early January. The financial institution-friendly cryptocurrency managed to overtake Ethereums market cap to reach a high of around $130bn on the news that it was the first cryptocurrency to receive institutional support and was on the cusp of widespreadadoption. Indeed, Ripples CEO briefly became wealthier than Mark Zuckerberg based on the market value of the 50,000,000,000 XRP that he currently holds. However, the hype died down and the reality that no banks have yet fully adopted the Ripple protocol soon set in. Ripple promptly tanked some 50% before recovering slightly, settling for a market cap of around $80bn and returning to the number three spot. The hype still lingers and many mainstream media outlets are still hailing Ripple the new bitcoin, thus showing their ignorance of its price movements and technological differences with the grandfather of cryptocurrencies. But the market has recognised the scale of hype around Ripple was not proportional to its adoption, and XRP has been punished f Continue reading >>
2018 Will See Many More Cryptocurrencies Double In Value
2018 Will See Many More Cryptocurrencies Double In Value Opinions expressed by Forbes Contributors are their own. Ripple coin has gone from an obscure cryptocurrency to the second largest by market cap following bitcoin. Investors in these assets predict many cheaper priced coins will double in price this year. (Shutterstock) A week before Christmas, this headline about a random cryptocurrency no one has ever heard of was read more than most best sellers: Asians 'Going Mad' For Ripple Coin. At the time, Ripple (XRP) was worth around a dollar. Today it is worth $2.45. This will be the year that more unknown cryptocurrencies double in value. How many will quadruple in value is anybody's guess. Sure, many of these new coins will disappear from the market. At their heart, the cryptocurrency craze is like the startup craze on steroids. Newly minted companies are going around the venture capital world, issuing their own digital currency, and having almost no problem at all finding willing investors. Got snake oil? No problem! Someone in Asia will take two bottles worth. While setting up an initial coin offering is not cheap and needs upfront angel investing to foot the bill, the ICO market has turned what was once a half dozen cryptocurrencies led by Bitcoin into a $650 billion market overrun by over a thousand cryptocurrencies. These currencies are tied to new, unknown companies selling products and services no one has ever heard of, understands, and may have no real use for. As an investment vehicle, the cryptocoin is the market's version of a poker chip. If you thought junk bond lords in the '80s were nuts... The cryptocurrency bubble, if you will, has thousands of nutty investors laughing all the way to the bank. Literally. If Ripple coin has doubled in value, what are t Continue reading >>
3 Cryptocurrencies That Outperformed Ethereum In 2017
3 Cryptocurrencies That Outperformed Ethereum in 2017 One lesser-known virtual coin is up nearly 170,000% this year. It may be the holiday season, but cryptocurrencies have been playing the role of St. Nick for virtual currency investors since the beginning of the year. When the calendar turned to 2017, the aggregate value of all cryptocurrencies combined was a mere $17.7 billion -- and bitcoin made up well over 80% of this value at one point. However, as of Dec. 14, the total cryptocurrency market cap had soared to $515 billion. For you math-phobic people, that's a return of more than 2,800%. For investors who've held throughout the entirety of this volatile year, they've possibly seen a lifetime's worth of gains. It's time we gave props to Ethereum and its 8,500% return A lot of credit is often bestowed on bitcoin for fueling this digital currency rally, and with good reason. Bitcoin was the first tradable cryptocurrency, and it's the most widely accepted by merchants. Even now, with an aggregate market cap of $515 billion for all virtual currencies, bitcoin comprises 56% of that total. But this rally is about more than just bitcoin. It's about the emergence of other coins and underlying blockchains that have the potential to effect positive change. Perhaps no cryptocurrency has stolen the spotlight from bitcoin in 2017 more than Ethereum. The Ether token has rallied by 8,500% this year, pushing Ethereum's market cap to $66 billion. Why the newfound love for Ethereum among investors? It mostly has to do with Ethereum's blockchain. Blockchain is the infrastructure that digital currencies are built upon, and they're responsible for logging transaction data in a digital, distributed, and decentralized ledger. There are a host of advantages to blockchain technology, incl Continue reading >>
Coins With Low Market Cap And High Potential? : Cryptocurrency
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Ethereum Is Worth 50 Billion Market Cap, $500+ Per Eth.
Ethereum is more valuable because of BAT. Every person watching cryptocurrency will take note of the BAT ICO which sold out in 30 seconds today. Ethereum has become the NASDAQ of cryptocurrency. If companies and crowdfunded projects can all launch on Ethereum, and raise ICO's of 30 million in 30 seconds because there are so many profits in cryptocurrency, developers and investors will be launching more projects soon on Ethereum. Obviously, there are already many projects in the pipeline. We should expect similar treatment for all decent ICO's that launch in the next month or so, so long as profits remain in cryptocurrency and the attitude has not changed. This makes Ethereum more valuable because with it, you can now launch crowdfunded projects and raise millions within seconds, intrinsic in its system. Maybe bitcoin will rise to get ETH to this valuation? Maybe ETH will surpass bitcoin now? Either way ETH has to go higher now. Would be nice if I still had my 1,300 ETH tokens I bought in 2015 for 80 cents each! I do not like ETH technology long-term, the system is a bottleneck, but none of this matters for the next 24 months. Whatever platform works is what people use today, and EOS and Tezos are not here yet. Today, there is ETH and it has become something due to first-to-market strategy. First to market strategy can persist for years because once capital is tied into something, it tends to attract more capital. Ethereum can still be upgraded too, so it may solve some of its issues in the future. Continue reading >>
Cryptocurrency Market Cap To Reach $2 Trillion In 2018: Mike Novogratz
Cryptocurrency Market Cap to Reach $2 Trillion in 2018: Mike Novogratz Billionaire trader and longtime cryptocurrency bull Mike Novogratz has predicted that the total crypto market cap will reach $2 trillion by the end of 2018. Mike Novogratz: Crypto Market Cap to Hit $2 Trillion in 2018 The Galaxy Investment Partners founder made this prediction on the Monday episode of CNBCs Fast Money , explaining that while he would not be surprised to see a short-term pullback after this quarters incredible rally, he believes the markets long-term fundamentals are sound and deserve a bullish posture. I have a sense that this is going to go a lot further. When I try to think of valuation, bitcoin really has taken the use case of digital gold, he said, estimating that bitcoin would need to increase another 30 to 50 times to reach parity with gold capitalization. Several weeks ago, Novogratz had predicted that the bitcoin price would reach $10,000 before the end of the year. Although it had yet to reach that mark by the time of writing, the bitcoin price appears positioned to punch through that barrier at any moment. In fact, it has already done so on South Korean exchanges, which tend to trade at a $100 to $200 premium over the global average price. Although many mainstream analysts continue to deride bitcoin as a bubble , Novogratz who now says that as much as 30% of his net worth is invested in crypto assets believes that the markets are still far too small to be considered a repeat of the dotcom bubble that occurred at the turn of the millennium. The whole market cap of all [cryptocurrencies] is $300 billion. Thats nothing. The NASDAQ at its high, in the 1999 bubble, was $6 trillion, and the NASDAQ was a U.S.-led bubble, he said. Cryptocurrency, on the other hand, is a global phe Continue reading >>
Why Market Capitalization Isnt A Good Metric For Cryptocurrencies
Investing @ MGV. Previously @KKR_Co & @UCBerkeley | [email protected] Why Market Capitalization Isnt a Good Metric for Cryptocurrencies Market capitalization is not the most relevant metric to evaluate or report for cryptocurrencies. At the very least, it should not be so readily compared with the market capitalizations of publicly traded companies because the practical considerations are very different for each category. In this piece, I will explain how to more reasonably think about the implications of market capitalization for cryptocurrencies versus publicly traded stocks. Market capitalization, more commonly referred to as market cap, represents the total dollar value (or other denomination value, like Euro, Yen, etc.) of all outstanding units (shares, coins, currency units). To calculate market cap, take the number of outstanding units and multiply it by the value of each unit (market cap = price X circulating supply). For example, if Company A has 1,000 shares that trade at $10/share, then the market cap of Company A is $10,000. If Coin A has 100,000 units and each trades at $5/unit, then the market cap of Coin A is $500,000. Market capitalization is important for stocks because it allows for an apples to apples comparison (it would be silly if a company could increase its value by a factor of 2 by halving the number of shares listed). While the formula can be applied to cryptocurrencies in the same way it is used for stocks, it does not mean that the numbers returned have the same practical meaning. What Is Different Between Cryptocurrencies and Public Companies There are a few key differences between cryptocurrencies and public companies that impact how market cap can be interpreted: Holding one unit of a public company (a share) represents something diff Continue reading >>
The Coin Market Cap Explained
Posted by Staff | Nov 21, 2017 | Investing Tips | 4 Every investor should learn as much about altcoin Market Cap, or market capitalization, as possible for a very basic reason: the market capitalization may tell you how much money you might be able to make from a cryptocurrency. Many investors regard market capitalization as the best means of estimating an altcoins return on investment (ROI). The ROI is the amount of money you might make from the cryptocurrency. Identifying those altcoins that have a higher ROI can help you make more money in the cryptocurrency market. Understanding the Market Cap can also help you avoid those altcoins with less moneymaking potential. The market capitalization is the value of all the units of a cryptocurrency that are for sale on the market right now. It is a strong indicator of demand because it shows you how much money has been invested in a particular altcoin. Basically, market cap is the estimated networth of a cryptocurrency, as given by CoinMarketCap.com. The Market Cap is calculated by multiplying the Circulating Supply of a cryptocurrency by the Coin Price. The Circulating Supply is the number of units of a specific currency for sale in the market at any given time. The Coin Price is the cost of an individual unit of an altcoin. On November 15, 2017, the Circulating Supply of Ethereum was 95.73 million, and the unit price was $330.98 for an Ether coin. That means the market capitalization for Ethereal was a little over $31.689 billion on that day. Fortunately, you will not have to calculate Market Cap yourself because there are plenty of websites like CoinMarketCap that will do it for you. Taking a close at them and reading through the results can show you the potential value of a cryptocurrency. Make Sure to Look at the Total Continue reading >>
Cryptocurrencies Could Be A $10 Trillion Market
RBC Capital Markets analysts Mitch Steves and Amit Daryanani believe that this is just the beginning of the cryptocurrency boom. On a near-term basis we think it is quite difficult to make price statements which is why we are flagging the move now in the case that it sustains, Steves and Daryanani wrote in December 12 research note. Longer term, we think crypto currencies are here to stay and will likely become a large market (our long-term estimate for the Crypto Currency space is in the $10 Trillion dollar range versus ~ $500B today). The analysts argue this is great news for semiconductor company Nvidia ( NVDA ). Companies like Nvidia that make GPUs (graphic processing units) have benefitted from the cryptocurrency space, particularly because of the interest in mining. GPUs are used to mine some of these cryptocurrencies. A man is reflected on a screen showing the price of bitcoin at a virtual currency exchange office in Seoul, South Korea, Wednesday, Dec. 13, 2017. (AP Photo/Ahn Young-joon) In recent weeks, theres been a frenzy in the cryptocurrency space as new investors have rushed in pushing prices of bitcoin ( BTC-USD ), Ethereum ( ETH-USD ), Litecoin ( LTC-USD ), and other cryptocurrencies to record highs. In the last week alone, bitcoin has jumped nearly 28% to last trade around $16,730, while Litecoin has surged 226% to last trade around $315, according to Yahoo Finances cryptocurrency tracker . Bitcoin presently has a market cap of $280 billion, while Ethereum has a market cap of $64.7 billion. Other cryptocurrencies have much smaller market caps. Bitcoin represents about half of the entire spaces market capitalization. Some have speculated that cryptocurrencies could be approaching bubble territory, potentially destabilizing the economy and the markets in Continue reading >>
How To Beat Fomo: What Are Bitcoin & Ethereum Worth In2020?
How to beat FOMO: What are Bitcoin & Ethereum worth in2020? 6/13/17 Edit: updated with feedback from a few Redditors Its been a big year for cryptocurrencies, with the total market cap for crypto jumping 6x since January 1st - from $18B to over $111B as of June 13th. The FOMO (fear of missing out) is real. New money is entering the market at a staggering rate - to the degree that many exchanges have had problems on-boarding and verifying their new customers to keep up with demand. These new investors are coming in droves after hearing about sky-high returns from a friend or friends friend or a friend of a friends friend. Once theyve gotten through the verification process on Coinbase or Gemini or Kraken, they execute their first market order and the rush of the cryptocraze washes over them. To the MOON! Then price drops by 10%, our new investor freaks out, convinces themselves that theyre hardly ever right, that ETH or BTC is going to $0 and that they should just cut their losses. They panic sell, adding fuel to the micro-bear run and the price continues to drop. Whew, that was close. Got out just in time. A short time later, they see that the price is not only retracing back toward their entry price, soon theyll realize that it will exceed it. They just bought high and sold low. They leave the market. Recent moments of FOMO in BTC & ETHtrading Weve seen this play out a number of times this year, and as an investor myself, I too get concerned when I see the price of ETH & BTC begin a FOMO trend. Ive seen the value of my portfolio drop by 2050% in hours. However, in order to counteract FOMO and any knee-jerk panic selling reaction I might have, Ive done two things: First, Ive taken my coins off of the exchanges. This prevents me from having my finger on the trigger and Continue reading >>
Ethereum Price News: Will Cryptocurrency Ever Reach Wild Highs Of $100,000 Per Coin? | City & Business | Finance | Express.co.uk
Ripple price news: Why is ripple going down? Why is crypto falling? In that case, the market capitalisation would have the potential of reaching $100trillion (71trillion), leading us to believe the price of Ethereum might rise as high as $1,000,000 (716,870) per coin. However, the expert warned that price predictions should not be taken as gospel given the sporadic and often unpredictable nature of market prices. He went on: Given the sporadic and often unpredictable nature of cryptocurrency, many new traders turn to social media for answers. And its no wonder why: With the meteoric rise of cryptocurrency in the last two years, new investors are wondering if they can make massive returns and buy a castle in the San Francisco Bay Area. Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year LiteCoin is going down with the market dip People tend to take price predictions as gospel and make poor decisions based on even the most tempered recommendations. A big topic of cryptocurrency speculation at present is the future of Ethereum (ETH). Will Ethereum ever reach $10,000 (7,168.70)? My answer is simple: I dont know, and Im not going to tell you that it will. But what I will tell you is how to figure this out for yourself by understanding market capitalisation. Mr Schuster explained that market capitalisation refers to the total value of a cryptocurrency and not just to the single price of one coin. He went on to describe that the current supply of Ethereum is estimated at 97million tokens. The expert declared: Market capitalisation goes a step beyond price to give more context to the total value of a cryptocurrency. Youve likely heard that Ethereum is worth many billions of dollars depending on the day. "The way to Continue reading >>