Crypto currencies

Almost 70 billion US dollars market volume: Crypto currencies as a global trend?

The total market volume of all crypto currencies is close to the USD 70 billion mark – with a strong upward trend.

Only a few days ago, the market capitalisation of all crypto currencies broke through the USD 60 billion barrier. Thanks to strong capital inflows, the USD 70 billion mark will presumably be exceeded very soon.

For several months now, we have been able to observe the news spy

A month ago the total market capitalisation was “just once” 29 billion US dollars, a week ago it was 52.6 billion US dollars. This means a growth of over 140% within a month or +33% within a week. As reason for the news spy and the rapid growth many investors see the strongly rising interest in Bitcoin and above all also the interest in various Altcoins like this: http://www.onlinebetrug.de/en/the-news-spy-review In addition to many other alternative digital currencies, Ripple, Ethereum and Litecoin are enjoying growing popularity.

The Ripple exchange rate, for example, rose over the course of last week to over 39 cents per digital token. The reason for the price explosion was probably a promise by Ripple to freeze more than 88% of the pre-scraped coins owned by Ripple. The reason for this was a vote of confidence. Investors expressed fears that Ripple could flood the market with its own coins and drastically lower the price. Using smart contracts, 1 billion XRP tokens per month are now to be released over a period of at least 4.5 years. According to Ripple, it holds 61 billion tokens.

As can be clearly seen from the following chart, Bitcoin’s share of the total market volume is constantly declining despite a positive price development. Current market share: 48.6%.

In particular, the strong spread of digital currency in Japan and South Korea as well as political discrepancies in the USA and economic uncertainties are said to have washed new investors into the crypto market. Bitcoin and other digital currencies are increasingly seen as safe havens and secure assets to protect against global tensions. Even Mike Maloney, founder of GoldSilver.com, the precious metals trading platform, said crypto currencies like Bitcoin are ideal for protecting against a shift in the global monetary financial system.

Where is the journey of the Bitcoin secret going?

Investors and analysts around the globe do not believe that the end of the Bitcoin secret has already been reached. Harry Yeh, Managing Partner at Binary Financial said in an interview about the Bitcoin secret:

“There is certainly still much greater demand. Not just for Bitcoin, but for digital currencies in general.”

Yeh was optimistic about the future and says that this is just the beginning:

“People don’t yet understand that there is much more room for improvement, the whole thing is developing into a global phenomenon. I expect a further rise with some corrections like last week.”