lurker10
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April 28, 2017, 06:23:18 AM Last edit: April 28, 2017, 06:43:16 AM by lurker10 |
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Indeed, I'm pretty sure that this is not a giant manipulation, but true influx of new money.
There is sufficient evidence to look back and conclude the crypto bull market officially started in the winter of 2016/2017, new money is pouring in. I'm curious what is the closest equivalent of shoeshine boys in the 21st century ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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dinofelis
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April 28, 2017, 08:46:56 AM |
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I'm curious what is the closest equivalent of shoeshine boys in the 21st century ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Yup. These graphs look outright scary: http://coinmarketcap.com/charts/#btc-percentageI wonder whether: 1) BTC will soon dip under the 50% market share psychological level 2) if so, whether this will have an impact or whether the alt coin bubble will pop soon.
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lurker10
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April 28, 2017, 08:55:12 AM |
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I'm curious what is the closest equivalent of shoeshine boys in the 21st century ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Yup. These graphs look outright scary: http://coinmarketcap.com/charts/#btc-percentageI wonder whether: 1) BTC will soon dip under the 50% market share psychological level 2) if so, whether this will have an impact or whether the alt coin bubble will pop soon.Not so soon, I think there are a few months to a year of steaming on before it starts cooling down.
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dinofelis
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April 28, 2017, 08:59:43 AM |
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I'm curious what is the closest equivalent of shoeshine boys in the 21st century ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Yup. These graphs look outright scary: http://coinmarketcap.com/charts/#btc-percentageI wonder whether: 1) BTC will soon dip under the 50% market share psychological level 2) if so, whether this will have an impact or whether the alt coin bubble will pop soon.Not so soon, I think there are a few months to a year of steaming on before it starts cooling down. At that rate, bitcoin will be on the 10th position or so by then... most major alts are growing double digits per 7 days, while bitcoin is at a few percent in 7 days.
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lurker10
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April 28, 2017, 10:11:06 AM |
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I'm curious what is the closest equivalent of shoeshine boys in the 21st century ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Yup. These graphs look outright scary: http://coinmarketcap.com/charts/#btc-percentageI wonder whether: 1) BTC will soon dip under the 50% market share psychological level 2) if so, whether this will have an impact or whether the alt coin bubble will pop soon.Not so soon, I think there are a few months to a year of steaming on before it starts cooling down. At that rate, bitcoin will be on the 10th position or so by then... most major alts are growing double digits per 7 days, while bitcoin is at a few percent in 7 days. Unlikely because the rate of growth in relative terms will be slowing down, especially the alts which have already seen 10-20-30x growth, it will be progressively harder to push their market caps higher. Bitcoin will not be surpassed this year, but the Bitcoin dominance index will be going down, there is no doubting this. The overall market cap of crypto one year from now can easily double.
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Ayers
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April 28, 2017, 10:19:49 AM |
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I'm curious what is the closest equivalent of shoeshine boys in the 21st century ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Yup. These graphs look outright scary: http://coinmarketcap.com/charts/#btc-percentageI wonder whether: 1) BTC will soon dip under the 50% market share psychological level 2) if so, whether this will have an impact or whether the alt coin bubble will pop soon.Not so soon, I think there are a few months to a year of steaming on before it starts cooling down. At that rate, bitcoin will be on the 10th position or so by then... most major alts are growing double digits per 7 days, while bitcoin is at a few percent in 7 days. but that is only thanks to ethereum not because of other alt, if it was not for ethereum all the alt have only a minimal marketcap which make no point in the equation, and yes alt are growing faster but alt have a very low marketcap, it's easy to pump, bitcoin it's harder to pump now with a value of $1300 and more
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CraigWrightBTC
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April 28, 2017, 10:24:24 AM |
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The combined market value of all cryptocurrencies in circulation has pushed beyond the significant milestone of $30 billion yesterday for the first time ever, underlining the ever-expanding interest in digital currencies and the blockchain technology. The altcoin market has soared since the turn of the year with the likes of Ethereum, Dash, Monero and Ripple making significant gains.
How much do you think the cryptocurrency market will grow?
I think crypto currency will grow is like stocks market right now, but i don't want make speculation about the numbers i just want make opinions bitcoin and other altcoins like stocks market, although bitcoin and altcoins there are not dividen like stocks, what I know the movement of digital currencies price are like movement stocks price and i could used same method of trading.
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Arvydas77
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April 28, 2017, 10:30:25 AM |
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The combined market value of all cryptocurrencies in circulation has pushed beyond the significant milestone of $30 billion yesterday for the first time ever, underlining the ever-expanding interest in digital currencies and the blockchain technology. The altcoin market has soared since the turn of the year with the likes of Ethereum, Dash, Monero and Ripple making significant gains.
How much do you think the cryptocurrency market will grow?
I think crypto currency will grow is like stocks market right now, but i don't want make speculation about the numbers i just want make opinions bitcoin and other altcoins like stocks market, although bitcoin and altcoins there are not dividen like stocks, what I know the movement of digital currencies price are like movement stocks price and i could used same method of trading. Fiat are coming into crypto with strength every day thanks to Bitcoin hype. I expect this tendency to continue. A few coming years should be big for cryptocurrencies. This market should grow and altcoins are strong as never.
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alyssa85
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April 28, 2017, 10:37:38 AM |
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I think the most remarkable fact is not so much the absolute amount, but rather the tendency away from bitcoin. http://coinmarketcap.com/charts/#btc-percentageWhile the total market cap shows a rather smooth parabolic growth, there has been a sudden shift from bitcoin to "alt coins" in general. The most remarkable fact to me is that this quite violent movement away from bitcoin has almost not affected the global curve. I can see 3 possible views on this: - crypto is doing away with bitcoin's total dominance, and the market becomes more homogeneous and open, without this absolute dominance of bitcoin (which doesn't mean that bitcoin as a market leader is done already, but it is not a monopoly any more and its long term first place loss is a matter of time and erosion). - this has been the hugest alt-coin pump and dump in history, and after all is said and done, when all altcoin believers have been shaked out of their last penny, all of this is going back to bitcoin - there's going to be a natural ratio between highly speculative greater-fool money in alt coins and "safe heaven" bitcoin, not meant to be a risky quick growth stock any more, but a mature savings account. There is a huge pump and dump going on - but the rise and consolidation of ETH continues, and if bitcoin doesn't resolve it's problems, it will get overtaken.
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dinofelis
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April 28, 2017, 12:25:48 PM |
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but that is only thanks to ethereum not because of other alt, if it was not for ethereum all the alt have only a minimal marketcap which make no point in the equation, and yes alt are growing faster but alt have a very low marketcap, it's easy to pump, bitcoin it's harder to pump now with a value of $1300 and more
Yes, and no. Total market cap 33.4 billion ; bitcoin: 21.2 billion ; ethereum: 5.7 billion ; rest of alts = 6.5 billion. So the "rest of the market cap" is half ethereum, half the others. So it is true that ethereum is of course important. But that the rest of the alts are unimportant, is not true. It is BTW remarkable that the ratio between BTC and ETH is somehow similar to the ratio between ETH and the next one (about 4). However, LTC is more than 1/4 of Ripple, DASH is more than 1/4 of LTC etc... So "pressure is building up" from below.
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ThomasVeil
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April 28, 2017, 01:07:27 PM |
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The market is definitely overheated. I took my profit out and wait for now.
I could name one or two alts that have some real life application for average users... Ether wouldn't even be one of them yet. When did you want to do anything and thought "now it would be practical to have Ether"? It's all just hopes that it might amount to something someday.
The graphs posted here about how the alts rise tell all you need to know: A crazy spike without any real news behind it. There was the BTC/BTU controversy, but BTU pretty much self-destructed by now. Compare the spike to the past, and you also see that it happened before, and corrected itself before. You already have tons of threads here desperate to find new things to throw money at. A boom mostly born out of greedy speculation will also turn into an irrationally strong crash to flush out the bad money. Might still be a month or two - but it will happen.
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lurker10
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April 28, 2017, 01:30:51 PM |
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The market is definitely overheated. I took my profit out and wait for now.
It may be true that the market is overheated and what you did is wise. There is this problem with taking profits though: what is this default stable money in which one can safely take profits and sit on the fence waiting it out? Every money out there has its set of problems, some long running alts may not be so problematic compared to what we traditionally have come to think of as stable money.
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dinofelis
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April 28, 2017, 02:16:19 PM |
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The market is definitely overheated. I took my profit out and wait for now.
I could name one or two alts that have some real life application for average users... Ether wouldn't even be one of them yet. When did you want to do anything and thought "now it would be practical to have Ether"? It's all just hopes that it might amount to something someday.
I can't think of a single one, bitcoin included. All of crypto is delusion if one thinks of "mainstream adoption". There ARE useful crypto concepts out there, for niche applications (usually not those that one likes to talk about). And there's a gigantic delusion: bitcoin (and imitators) will be the money of the future ; ethereum (and other smart contracts) will be the law and contracts of the future. None of this is realistic, but this megalomania delusion is simply necessary to give a "story of credible future economic value" to the whole scene ; while in reality they are just financial gambling tokens ; like most of the actual derivative market is, also: the true usage of derivatives as hedging tools in a specific market is a microscopic part of the derivative market as a whole which is nothing else but a big casino. Apart from "geeks having invented their own version of a derivative market, allowing anyone to gamble", I can't see any single mainstream usage of this stuff. But niches, yes. Of course. Crypto, however, is not about its real world usage. It is about it being gambling tokens (and essentially a greater-fool game) ; but it needs a delusional story behind it to create the illusion of future economic value. You already have tons of threads here desperate to find new things to throw money at. A boom mostly born out of greedy speculation will also turn into an irrationally strong crash to flush out the bad money. Might still be a month or two - but it will happen.
But that's the essence of the financial world in general, and crypto in particular.
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lurker10
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May 08, 2017, 05:47:29 AM |
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The combined market value of all cryptocurrencies in circulation has pushed beyond the significant milestone of $30 billion yesterday for the first time ever, underlining the ever-expanding interest in digital currencies and the blockchain technology. The altcoin market has soared since the turn of the year with the likes of Ethereum, Dash, Monero and Ripple making significant gains.
How much do you think the cryptocurrency market will grow?
$100 billion in two years, half of that will be Bitcoin with the price of ~$3000, half the others. From the looks of it, could make it there in 1 year.
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Nascor
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May 08, 2017, 09:20:31 AM |
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almost everyday will be an "all-time high" for the next years
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dinofelis
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May 08, 2017, 10:14:40 AM |
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but that is only thanks to ethereum not because of other alt, if it was not for ethereum all the alt have only a minimal marketcap which make no point in the equation, and yes alt are growing faster but alt have a very low marketcap, it's easy to pump, bitcoin it's harder to pump now with a value of $1300 and more
Yes, and no. Total market cap 33.4 billion ; bitcoin: 21.2 billion ; ethereum: 5.7 billion ; rest of alts = 6.5 billion. So the "rest of the market cap" is half ethereum, half the others. I wrote this less than 2 weeks ago ! The situation now: total market cap: 51.8 billion ; bitcoin 27.1 billion ; ethereum 8.5 billion ; rest of alts = 16.2 billion of which XRP, with 7.2 billion, is now taking half of it. It is interesting to see that ethereum, who was on par with "the rest of alts" is now only "half of the rest of alts", and that the "rest of alts" is now having half ripple, half the rest of the rest. This really goes in the direction of the market fully diversifying over alts.
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omonuyak
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May 08, 2017, 11:54:52 AM |
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I read similar story on http://www.coindesk.com this morning and confirming it here again I am very happy for the current development not only in bitcoin but also in altcoins. The market capitalization has increase significantly for the past three weeks and it is a sign of good things to come.
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hankyulpark
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May 08, 2017, 12:32:50 PM |
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If we multiply the BTC price x 10, we will have a market cap of a little bit under 300 billion dollars. This is a lot of money? Yes. For what BTC and other cryptocurrencies represents? Not so much. This is the value of a large company in USA stock market and when we are talking about fiat currencies, almost nothing. So, it is plausible to have a much bigger market cap if more solutions using cryptocurrencies are delivered in the next months.
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