Srp 15

As Bullish Bitcoin Barrels Past $4,000 Standpoint’s Ronnie Moas Raises Year End Forecast to $7,500

· August 15, 2017 · 2:00 pm

Having boldly called Bitcoin to reach $5,000 per coin by the end of the year, renowned stock picker and founder of Standpoint Research Ronnie Moas has had to re-evaluate his prediction as the digital currency hurtles towards that figure halfway through August.


In the wake of Bitcoin’s record-breaking rise in value during the first half of this year, Moas has had to re-evaluate his prediction and has raised his target to $7,500 as the likely price for the cryptocurrency to reach by years end. The new target, a 50 percent increase over his previous predictioncame about after Bitcoin hurtled past $4,000 last week.

The Floodgates are Opened

The Floodgates are Opened

Moas, the founder of Standpoint Research, says that there will be an influx of big, traditional investment money that will be driving the next surge towards the year’s end. In an interview with CNBC, Moas said:

What’s happening is the floodgates are opening. I believe there are hedge funds and very deep-pocketed individuals going into this now, really hundreds of millions of dollars

Moas told his clients that his expectation is that Bitcoin can still rise another 80 percent from its current record breaking high by the end of the year. Furthermore, he has also re-evaluated his 10-year prediction and now sees Bitcoin rising to a whopping $50,000 by 2027 – a 28 percent annual compounded growth rate.

Traditional Investors are Taking Note

Having always been involved, successfully, in traditional stocks, Moas now sees these traditional investors exploring cryptocurrencies, bringing with them loads of capital. Moas sees digital currencies becoming part of strategic reserves and asset allocation models in the near future.

“You can’t look at this as a normal situation,” he said. “We’re in an industry that will probably go from $140 billion to $2 trillion and the Bitcoin price will probably move with that.”

True Believer

True Believer

Moas is a true advocate of Bitcoin, having stated before that 100 percent of his investments are in digital currencies, with the majority in Bitcoin and Ethereum. In the past, he would never invest in any of the stocks he picked, regardless of their success.

Moas has lofty ideas as to where cryptocurrencies can go, and instead of seeing a bubble about to pop, the stock picker believes it is just the start.

In a note to his clients on Monday, Moas wrote:

Any way that I look at these numbers, my forecasts are looking conservative. It looks to me as though we are at the same point in the adoption curve as we were in 1995 when we went from one million internet users to ten million. The following year the Netscape browser came online and we went from 10 million users to hundreds of millions of users overnight.

I expect that within a couple of years we will have between 50 and 100 million cryptocurrency users — up from approximately ~10 million today. We only have 0.15% market penetration right now — if that goes to 2 percent or 3 percent we will get to the $50,000 price target that I set in July.

Are these figures too high? Can Bitcoin really become such a valuable asset over time? Let us know in the comments below!


Images courtesy of Wikimedia Commons, AdobeStock

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Srp 13

Legendary Investor Howard Marks Admits ‘I Don’t Understand What’s Behind Bitcoin’

· August 13, 2017 · 4:00 pm

After calling Bitcoin a ‘fad’ and a ‘pyramid scheme’ the man who called the dot com bubble has admitted that he does not understand what is driving the value of Bitcoin, which keeps rising seemingly unhindered.


While many, including traditional investors, come around to Bitcoin and get on board with the digital currency that keeps breaking records in terms of its value, some are still stubbornly skeptical, and a little confused.

Where is the Value?

Howard Marks, the billionaire investor who made his name on Wall Street from calling some major investment bubbles, including the Dotcom bubble, said on CNBC’s Fast Money Halftime Report that he can’t figure out the actual value of Bitcoin.

Speaking about this new-age currency, Marks said:

It’s not a medium of exchange, it’s a medium of trading, so I can’t see any intrinsic value, I don’t understand what’s behind Bitcoin.

He later added:

For me, there is only one kind of investing: When you look at something, you don’t think, ‘Is it going up or down tomorrow?’ … You say, ‘What is the intrinsic value?’ and then you say, ‘Can I buy it for less? […] There is no intrinsic value in Bitcoin.

Value of Bitcoin tops $4000

Value Keeps on Rising

Despite this doyen of traditional investing stating that there is no intrinsic value to the most famous digital currency, its value recently topped $4,000. As such, there are very few assets in the world that can even come close.

Fundstrat co-founder Tom Lee, CEO of Ritholtz Wealth Management Josh Brown as well as another investing legend Bill Miller, are all in the opposite camp of Marks’ as they have thrown their full support behind this up and coming skyrocketing asset.

Lee believes it will be the top performing asset at the end of the year while Miller has said that he is the proud owner of Bitcoin.

Don't get left behind

Left Behind

Marks was happy to concede on the show that perhaps the digital currency was a technology and an asset that he was simply too old to understand.

“Maybe I’m just too old and too much of a dinosaur to understand Bitcoin,” Marks said jokingly.

However, Marks has still been bold enough to compare Bitcoin to other bubbles that have gone back as far as the 1900 Tulip mania in the Netherlands. It is through his popular memos that the former Oaktree Capital co-chairman warned about a crash in Bitcoin.

Should people worry about what these traditional investors think? Is Bitcoin breaking the mold and setting its own precedents? Let us know in the comments below!


Images courtesy of CoinMarketCap, Shutterstock, Thomas Lee/Bloomberg

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Srp 08

Unregulated Bitcoin ‘Wild West’ Gives Rise to Spoofy

· August 8, 2017 · 5:30 pm

Spoof orders, illegal on financially regulated markets, are on the rise and being exploited on largely unregulated Bitcoin and cryptocurrency markets. Demonstrable instances, perpetrated by a group or individual known as Spoofy, have occurred on Bitfinex and GDAX.


Spoof orders, or placed market trade orders that are not actually intended to be executed, are part of the rampant manipulation of traders on cryptocurrency exchanges. Trading into your own buy or sells is also illegal in the regulated financial markets, and it is suspected that this behavior has become more rampant in order to help Bitcoin price manipulators cut potential loses from their dubious activities. They also serve to sway trader behavior with massive sell and buy walls which are suggested to be the work of an individual or group, perhaps even the exchanges themselves going under the pseudonym of Spoofy.

Spoof Trading Ruled Illegal On Traditional Exchanges

Spoof Trading Ruled Illegal On Traditional Exchanges

With trading bots and API access to exchanges providing all the data needed for a coordinated manipulator, it isn’t a question of “is someone doing it?” so much as “who is doing it?”. Cases have been brought to light and prosecuted in the traditional stock markets, such as when Navinder Sarao pleaded guilty to spoofing offenses.

Using an automated trading program, or bot, Navinder’s actions contributed to the 2010 stock market flash crash. Then there is Michael Coscia who used a flood of small orders before canceling them to manipulate other traders. During Coscia’s trial, assistant US attorney Sunil Harjani said:

Traders contemplating sophisticated scams will think twice if they know that there are more significant consequences than a civil lawsuit or a regulatory action. […] Hedge funds and proprietary trading firms will closely review their trades, and strike down get-rich-quick manipulation trading schemes because the cost is not worth the benefit.

Is Spoofy Real? Evidence Seems to Point to ‘Yes’

BitCrypto’ed provides plenty of evidence on the Hackernoon website on market manipulation (including the video above), alleging that the trade spoofing activity is primarily carried out on the Bitfinex exchange. According to the investigation, Spoofy is either an individual or group, but certainly a coordinated entity with an unrivaled amount of money to influence the market.

Laying out all of the evidence, BitCrypto’ed writes:

Spoofy makes the price go up when he wants it to go up, and Spoofy makes the price go down when he wants it to go down…And he’s got the coin… both USD, and bitcoin, of course, to pull it off, and with impunity on Bitfinex.

Marketwatch’s Shawn Langolois, who appears to agree with BitCrypto’ed, further clarifies:

If Spoofy places a large buy order that entices smaller traders to hop aboard, he can turn around and instead use the uptick to execute a sell order.

Not Everyone Believes

Not Everyone Believes

No matter the evidence, however, there are still plenty of people who have yet to be convinced that a single person or entity could possibly be the sole driving force behind Bitcoin’s price.

Whether or not Spoofy is real, the practice of spoofing is very real and is already common enough to warrant rulings against it in the traditional stock market. Largely unregulated, cryptocurrency markets are still very much the “wild west” frontier of finance, a reputation hard to dismiss as exchanges and owners disappear or get arrested with alarming frequency. The same lack of regulation that makes cryptocurrency so attractive to many is also what allows modern day Butch Cassidys and James Gangs to get away with their misbegotten deeds.

Do you believe in Spoofy? Is he just a ghost story whispered of by grizzled traders? Let us know in the comments below.


Images and video courtesy of AdobeStock, Hackernoon

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Srp 05

We Have Liftoff: Bitcoin Price Rockets Past $3000 Record High

· August 5, 2017 · 11:30 am

Bitcoin’s price reached historic new highs at $3230 late last night, while Bitcoin Cash settled below $300.


Enthusiasm has finally picked back up amidst the volatility following August 1’s hard fork, and Bitcoin has a brand new price tag to show for it. Bitcoin shattered its previous record high of $3000 last night, while Bitcoin Cash took another haircut and has settled at around $285.

The 3k price represents a notorious resistance level for Bitcoin, one which infamously ended BTC’s previous bull run in mid-June. BTC’s price had just barely grazed the 3k level before a massive sell-off sent it plummeting to around $2,500 in one of the currency’s largest single day losses.

Bitcoin price chart - CryptoCompare BTC index

Since then, many have waited for Bitcoin to return to its previous highs as prices stubbornly hovered around the mid-2k range for much of June and July. Market volatility leading up to the August 1 UASF activation drove it down even further below $2000 before SegWit2x signaling finally restored prices to around $2600 in mid-July.

BCH Down, Other Cryptos Up

On the other hand, Bitcoin Cash (BCC/BCH) took another hit last night as BTC climbed. Although BCH launched at $200 and then skyrocketed to $1000 quickly after the fork, it has since been slowly losing value in its first six days of trading. It lost just over 20% value in the past 24 hours of trading.

Many have already pointed out that BCH’s inflated price was a result of being unable to withdraw BCH funds from various wallets and exchanges, leading to low market liquidity. Once these issues were resolved and trading re-commenced, however, the price plummeted to around $400 and has since continued to dip.

Regardless, it appears that things have been going well for traders who held on to both coins. Although many traders reaped large profits from selling off their BCH while prices were high, both coins’ combined value is now just under $3500. It remains to be seen if BCH’s price will dip further before stabilizing.

Other cryptocurrencies are also faring well during this new boom. Ethereum is recovering previous losses and is now roughly $238. Litecoin shot up from $43 to $46 and is currently holding there. Ripple prices have also just recently spiked to $0.185, up from $0.175 last night.

Bitcoin Cash price chart - CryptoCompare BCH index

A Milestone for Bitcoin

BTC’s new price marks a historic moment for users of the digital currency, who have waited with baited breath to see the outcome of August 1. Many have long awaited a resolution to the contentious scaling debates which have dogged the community for months.

Although Bitcoin’s scaling issues are by no means over (there’s still the 2x part to implement in November), for now, users can breathe a collective sigh of relief that Bitcoin is now sailing in smoother waters.

Do you think Bitcoin’s prices will stay above $3000? Did you hold both your BTC and BCH, or have you dumped either coin yet? Let us know in the comments below.


Images courtesy of CryptoCompare, Twitter

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Čvc 25

Crypviser’s CVCoin Trades on OpenLedger; Bigger Exchanges Coming

· July 25, 2017 · 1:00 pm

Crypviser has recently finished the token distribution process, allowing the CVCoin token to be traded on the OpenLedger Decentralized Exchange. Plans for centralized exchanges have also been revealed.


Crypviser CVCoin ICO

Crypviser, CVCoin and the ICO

Online privacy is one of the most pressing issues of today’s internet. Although access to privacy-oriented tools continues to improve over time, other applications that do not focus on privacy often present themselves as a more intuitive alternative. Blockchain technology has been on the fringe of financial privacy and now, thanks to the Crypviser project, it may play an important in communications privacy and its mainstream adoption.

Focusing on privacy and end-to-end message encryption, Crypviser is leveraging the advantages provided by the blockchain technology to create an all-in-one network for secure social and business communications. The platform’s native token, CVCoin, will be required in order to interact with the communications platform and for in-chat payments.

CrypViser: Secure Communications

Following a successful Initial Coin Offering (ICO) period, he token distribution process has been completed with campaign participants receiving their CVCoins in the form of a Bitshares-based asset. A previous Facebook post made by the team explains why the BTS blockchain was chosen:

Crypviser chose the Bitshares platform powered by OpenLedger based on its key features, which match Crypvisers technical requirements and ideology. The Bitshares platform is one of the most powerful, secure and scalable blockchain networks available today.

The team has also released some ICO statistics that show just how popular privacy tools can be. The campaign gathered over $3.4 Million in several cryptocurrencies and distributed 5.5 Million CVCoin tokens to roughly 3000 unique investors. Since then, the Crypviser community has grown at an outstanding speed and currently counts with more than 8000 members in various multi-lingual sub communities.

Bitshares & Openledger

Since the Crypviser network will use the Bitshares blockchain, the CVCoin can be freely traded with no counterparty risk on the OpenLedger decentralized exchange. The Facebook post reads:

The Crypviser team believes that the future of exchanges and trade platforms in decentralized blockhchain world belongs the decentralized exchanges.

Although trading hasn’t been officially announced by the Crypviser team, trades are already taking place within the OpenLedger exchange. The team has warned that the prices seen on these “pre-markets” may not reflect the real market price of the CVCoin token, given their low volume and the lack of availability on traditional platforms.

What is next for Crypviser?

What is next for Crypviser?

With the CVCoin token distributed to ICO participants, Crypviser moves on to the next stages of development, including getting the token listed on traditional exchanges. Although the CVCoin is available on the OpenLedger DEX, Crypviser announced a plan which involves starting with the bigger exchanges like Bittrex, Poloniex and Kraken, and moving on to smaller markets like C-CEX and others.

Crypviser will also commence the development of their own wallet which will provide token holders with an intuitive interface for token interaction. Along with the development of a new wallet, they will also launch an official website for the project and the CrypNews media channel, a platform that will feature the latest news in the world of Blockchain Tech & Cryptography.

Further down the line, the team will release an early Alfa version of the Crypvise App for social communication which will be available for to CVCoin ICO early bird participants.

Can Crypviser help shape the future of online privacy? Let us know what you think in the comment section.


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Čvc 20

Tick-Tick-Boom! The Explosive Rise of the ICO

· July 20, 2017 · 4:30 pm

Over $1.3 billion has been raised so far this year through Initial Coin Offerings (ICOs). Almost half of that has come in the last month alone. Ex-Ethereum-CEO, Charles Hoskinson, recently described today’s digital coin market as a “ticking time bomb”. So what exactly is going on? Who are the winners and losers in all this? And most importantly, are we ‘in’ or ‘out’?


I see… Oh!

Initial coin offerings are currently everywhere. If I threw a tennis ball out of my fourth story window it would bounce off at least six ICOs before it got to the ground. The popularity and success of Bitcoin, Ethereum, et al., have investors moist with anticipation at getting their hands on the latest crypto-token. But how many of them understand what exactly the latest crypto-token is?

In truth, the majority of ICOs at the moment are being used to crowdfund virtually any half-arsed tech-project running on a blockchain. If it has a blockchain (or will have a blockchain), you can issue a token (or have a pre-sale of the tokens). Hence, you can raise the funds so desperately needed to complete/start your project (or create/buy that blockchain).

Yes, as an investor, you ostensibly have a new crypto-coin, but it’s not a million miles away from buying shares in a stranger’s startup.

But if the value goes up...

But if the value goes up…

Congratulations, you’re today’s big winner! Well, maybe not the big winner. The company whose project you funded are the big winners. You can bet they have far more of their freshly minted crypto-coins than you do. But you made money, so who cares?

The co-founder of Ethereum cares. Speaking to Bloomberg this week, he said

People say ICOs are great for ethereum because, look at the price, but it’s a ticking time-bomb… People are blinded by fast and easy money.

That’s almost as rich as he must be! Bear in mind that an awful lot of these coins are built on the back of the Ethereum network he helped develop, and helped along by that, the price of (his) Ether went from $8 to $400.

So Who's the Loser?

So Who’s the Loser?

Americans. Digital coin sale regulations in the US are unclear, so many ICOs officially prohibit U.S. residents from participating. Companies don’t want to be risk being accountable to the U.S. Securities and Exchange Commission, in case investors lose money.

Everyone’s afraid of the SEC. They can reach anyone in the world.
– William Mougayar, author of ‘The Business Blockchain’

But I’m not from the U.S… So, am I ‘in’ or ‘out’?

At the moment I have to say “In”… cautiously. Do your research, obviously! Don’t just jump like a grasshopper at the next ICO my tennis ball bounces off. There are some bad people out there in the world who just want to take away what you have… But you knew that, right?

By the same token (hah!) there are also some fantastic investment opportunities.

Yes, every bubble has to deflate (except maybe Bubbalicious?), and sooner or later it is almost certain that the bony fingers of regulation will be on their way, but ICOs aren’t going anywhere.

Brad Garlinghouse, CEO of Ripple, stated:

Regardless of regulation ICOs is here to stay. After it collapses they’re going to pick up the pieces and say how do we do things differently.

As we speak, people are making several fists full of dollars, and I see no reason why we shouldn’t be one (or more) of them.

So let’s make hay while the sun shines.

Is the ICO a ‘ticking time bomb’ or is it sustainable? Let us know what you think in the comments below.


Images courtesy of Shutterstock

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Čvc 15

Investors see ICO as the Future of Venture Capitalism

· July 15, 2017 · 12:30 pm

This year has been a very profitable for cryptocurrency investors. More and more people are investing in ICOs (Initial Coin Offering) in hope to get in the next Bitcoin or Ethereum.


ICO the Future of Venture Capitalism?

The Future of Venture Capitalism

Any way you look at it, 2017 has been a record setting – and record breaking – year for cryptocurrencies and ICOs. Over 40 different projects have managed to raise an impressive $1.2 billion USD in funding through token sales. Investors and experts believe that this is just the beginning and that ICOs will become the de facto method for fundraising in the future.

In light of the overwhelming successes of several recent ICOs, many startups have decided not to take the traditional path of fundraising through venture capitalists (VCs) and instead launch their own ICOs. Not wanting to be left out of the money loop, many venture capitalists are now turning to ICO-focused hedge funds. In fact, in 2017 alone, over 15 new hedge funds have launched or will be launched by the end of the year. Many of these funds are backed by VCs like Founders Fund, Sequoia Capital, and Union Square Ventures.

According to a recent article in Forbes, among the list of newly created hedge funds are Polychain, founded by Olaf Carlson-Wee, and MetaStable, founded by Lucas Ryan, Josh Seims and Naval Ravikant, the chief executive officer and co-founder of Angel List.

Bubble or Bull Market?

Bubble or Bull Market?

Some experts believe that the recent hype surrounding ICOs might be an indication for a bubble. The commonly held opinion among these experts is that with new ICO projects being launched nearly every week, many investors may be “blinded” by their greed and invest in projects that have no working product, business plan or future development plan.

William Mougayar, the general partner at early stage fund Virtual Capital Ventures, said following regarding the current ICO situation:

If you rush gains, valuations, expectations, hype, etc… the whole thing will crash down. That is what happened in 1999/2000 with the Web. Suddenly, everything was going to be on the web, whether they were good or bad ideas, and whether they were experienced or non-experienced teams,

This current ICO frenzy is reminding a lot of investors of the famous Dot-Com bubble of 2000 that cost investors $5 trillion. This week, the cryptocurrency market had a strong downtrend that brought down the market capitalization from $100 billion to a current $71 billion.

What are your thoughts on the future of venture capitalism? Do you think that more VCs will jump on the ICO train? Let us know in the comments below!


Images courtesy of Pexels

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Čvc 02

Block.one Breaks Records, Raises $185 Million in 5 Days

· July 2, 2017 · 11:00 am

Blockchain startup block.one raised a record-breaking $185 million USD through the ICO of its EOS cryptocurrency.


The Hong Kong-based startup block.one recently announced that they have raised $185 million in 5 days, through the ICO of their cryptocurrency EOS. The record-breaking amount of funds that were raised, were enough to take the record from the Bancor ICO. The Bancor ICO was able to raise $150 million for its ICO.

The Technology

EOS infographic

Block.one’s product is EOS, a new platform that allows developers to create blockchain apps on top of their protocol. The EOS software will introduce a new kind of blockchain architecture that allows vertical and horizontal scaling of decentralized applications.

The startup also claims that the EOS platform can handle hundreds of thousands of user transactions without charging any fees. On the official website of EOS, the team also stated that the software will be released under an open-source license.

EOS Token

EOS graphic

After many previous ICOs like Status and BAT were sold-out lightning-fast, the block.one team decided to use a take a different approach for the EOS token distribution process. The EOS token distribution will take place over 341 days, starting on 6/27/2017 and 1 billion tokens will be issued in total. According to the official EOS page, the distribution will have several different phases.

The first phase of the distributions took place between June 6th, 2017 and July 1, 2017, with a total 200 million tokens be up for sale. The second phase of the EOS token distribution will start on July 1st, 2017 and 700 million EOS token will be distributed. These 700 million tokens will then be split evenly into 350 consecutive 23 hour periods of 2,000,000 EOS tokens each. The final 100 million tokens will be reserved for the block.one team and cannot be traded or transferred.

When asked why they chose to use this particular token distribution method, the block.one team explained:

A lot of token distributions only allow a small amount of people to participate. The EOS Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to see the development of the EOS.IO Software prior to making a decision to purchase EOS Tokens.

What are your thoughts on the EOS ICO? Do you think that the block.one team took the right approach for their token distribution? Let us know in the comments below!


Images courtesy of block.one, unsplash.com

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Kvě 22

Global Cryptocurrency Market is Now Bigger Than Uber, Airbnb, Xiaomi

· May 22, 2017 · 10:30 am

The global cryptocurrency market cap has now blown through that of famous startups like Uber , Didi Chuxing, Airbnb, Xiaomi, and many others.


Global Cryptocurrency Market cap

As Bitcoin and other cryptocurrencies gain traction throughout the world, more money keeps pouring from traditional markets into the cryptosphere. Breaking record highs during the weekend, Bitcoin, Ethereum and others have grown to unprecedented values, adding roughly $25 billions to the global crypto market cap in the last two days.

Currently sitting just under $80 billion, the global cryptocurrency market cap has now blown through that of famous startups like Uber ($68B), Didi Chuxing ($50b), Airbnb ($31B), Xiaomi ($46B), and many others.

Although there is still a long way to go to reach the value of giants like Apple, Microsoft and Amazon, this marks a significant milestone in the cryptocurrency progress.

The continuous rally in the crypto markets is believed to be mostly connected to the recent Japanese law, in which cryptocurrencies are considered as legal payment methods exempt of consumer tax. Not only that but in the midst of political uncertainty and as the traditional market continues to plummet, investors are looking for safe-haven properties that are often provided by gold and now by cryptos like Bitcoin and Ethereum.

Moreover, Bitcoin and altcoins are completely new to most average investors and represent a certain level of technical challenge. However, cryptocurrencies are actually much easier and cheaper to access than the traditional market. Buying stock in these startups is no easy task, as opposed to buying Bitcoin or altcoins, which is also a driving factor in the cryptocurrency rally.

As one Reddit user noted:

People are constantly whining about how hard it is to buy Bitcoin, but try buying into an IPO for one of those startups or just shares off the market. It’s not impossible, but it’s not cheap and it’s not easy. Relatively, crypto has a very low barrier of entry and you can trade as little or as much as you want. There’s no substantial minimum trade cost and fees are near enough to zero to have no impact.

Bitcoin Dominance

In the last month, the cryptocurrency landscape has changed drastically, gathering over $40 billion in market cap and doubling in size In time, Bitcoin has been losing its share of the crypto market at an accelerating rate.

Even though Bitcoin is still the “top dog” with a market dominance of roughly 46%, the change in market cap distribution represents an important shift in the cryptocurrency scene, one that may not be great for Bitcoin itself, but that is certainly great for the cryptocurrency market as a whole.

Bitcoin is likely to remain the leader in terms of coin market cap, given its broader application as a currency (and not as an appcoin or asset) and the relative advantages it has over other currencies such as security, immutability, and decentralization.

However, this change demonstrates that investors are becoming more knowledgeable about blockchain technology in general. Additionally, many newcomers are probably also investing in alternative cryptocurrencies with the hopes of catching the next wave after failing to buy bitcoin for double and even triple digit prices. 

Lastly, this shift in dominance may also be connected to the pressing capacity issues that Bitcoin is facing, preventing it from keeping up the growth of other coins that have yet to face their own scaling challenges down the road.

Paradigm Shift or Bubble?

Although this unprecedented rally is certainly a reason for excitement, many members of the community have voiced their concerns regarding the possibility that we are currently experiencing a bubble similar to the one experienced in 2013, which as we all know, had disastrous results.

Some are even comparing the current Poloniex situation with Mt.Gox back then, given the recent suspicion that Poloniex is manipulating the markets, an idea that isn’t so far-fetched since Poloniex comprises the majority volume on the most valuable altcoins.

The cryptocurrency surge presents signs that can be interpreted from multiple sides. While it is possible to present logical and compelling arguments for many theories, the truth is that cryptocurrencies are a completely new asset class. In other words, no one can predict how this nascent market will behave, especially in the information and internet age. 

One thing is certain, however, there is still a long way to go to reach mainstream adoption. Therefore, we could just be getting starting.

To give you an idea, the current global cryptocurrency market cap would have to grow tenfold to reach that of Apple. While Bitcoin itself would have to be worth roughly $46,000 USD to have the same marketcap as Apple or roughly $700 billion.

What do you think? Are we in a bubble? Will Bitcoin lose its position as the top cryptocurrency? Share your views on the comment section!


Images courtesy of coinmarketcap, Shutterstock

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