Feeling like you’ve been on a roller coaster ride or been whipsawed by the action it the Crypto Currency Markets these past few days.
Market cap dropped down to around $90 billion but now recovering about 50% of the downturn and back around $104 Billion.
In fact just watching ETH a few days ago, it seemed like it was dropping $4 a minute. I can remember when ETH was around that price just last year and now it’s moving $100 or more in a single day, not to mention BTC falling like $600 in a day. Just watching it can make one dizzy.
Speaking of this recent downturn, had the US Stock Market, which has a market cap of around $25 Trillion, had these types of swings you’d be talking about a 6,000 to 7,000 drop on The Dow Jones which would be making Headlines all over the news. It would be Panic City with everyone running for the Hills or Armageddon is fast approaching 😊 But with Cryptos it’s just another day in the market.
While I’m sure some traders lost millions with the 30% drop, others may have seen it as a healthy correction and used it as a Buying opportunity. How did you see it?
I was fortunate as I picked up some more BTC and ETH on the dip and as I’m writing this now, the market appears to be heading up again with ETH back at $300 and BTC nearing the $2600 level again.
I want to get back to Market Capitalization to truly illustrate how we are really just entering into the infancy stages of this emerging crypto market.
Like I mentioned above, the US Stock Market is $25 trillion and the Crypto Currency market is just $100 Billion. This means that the crypto market is less than ½ of 1% of the US Stock Market Capitalization.
Does anyone else see this as a MAJOR opportunity to get in now, while so few people even know about it yet. I believe the next hurdle is when we hit $1 Trillion Market Cap on Cryptos. So the question is how soon can we get there, as that it when I believe this will really start to go mainstream.
Who thinks the Market Cap will be $1 Trillion by the end of 2018? Would love to hear everyone’s thoughts.