The cryptocurrency market has crossed all barriers of its financial worth, reaching as high as $500 billion for the first time since its economic birth. After decades of successful digital transactions and numerous altcoins in regular circulation, the currency’s strongest advocate, Bitcoin, has reached record values this year ( an incredible $16,748 for one unit at the moment of writing).
To be precise, there are 1342 alternative versions of cryptocoins on the market, which inevitably shows its long-standing and stable growth over the years. Among them, two more e-currencies stand out, and experts are slowly starting to show interest towards other investment opportunities. Namely, the value of Ethereum and Litecoin has respectfully soared in the past 24 hours, hitting as much as $627,00 or $328,00 USD per unit. Whether the Bitcoin bubble will soon burst or the market will become oversaturated and lose its ecumenical value remains a mystery, according to major investors.
Just to be clear, the supersonic speed of market growth has increased in the past several weeks, skyrocketing from a staggering $200 billion all the way to half a trillion! In comparison to its first expansion from $100 billion USD, it took only 5 months to DOUBLE the astronomical amount. After reaching new heights in terms of multibillion net worth, investing in digital assets has become a mainstream trend on any stock exchange.
Longterm consumer awareness about cryptocurrency has been influenced by the media on a large scale, due to an enormous number of purchases, wallet openings and the ever-growing popularity of BTC. Approximately $35 billion transactions have been processed in the past 24 hours, showing an increased trade volume, probably due to the upcoming holiday season. The latest forecast predictions aim at $20,000 per coin in the next months or even weeks, as the number of potential users and new investors continuously develops.
What are your predictions for the Bitcoin value? Let us know in the comments!
Source:
“Cryptocurrency Is Half A Trillion: Joint Market Cap Hits $500 Billion”, Wilma Woo, bitcoinist.com, December 12, 2017.