[2017-08-29] $160 Billion: Cryptocurrency Market Sets New All-Time High

[bbc.reporter]

We are close in witnessing the cryptospace become a trillion dollar market and I am very positive that it can happen by 2020. We should therefore start looking for the cryptocoins that would gain in value and take it to that level. I speculate the best anonymous coins will be a big part of that. Another sector would be the best smart contract platforms.



Investment in cryptocurrencies continues to increase.

Spurred by increases in investment, the total value of the more than 800 publicly traded cryptocurrencies and crypto assets pushed past $160 billion for the first time ever, according to data provider CoinMarketCap.

With the move, the figure is now up 1,500 percent from the $10 billion observed at the start of the year.

Notably, the new high was set even as bitcoin, the market's largest asset, continued its recent pattern of sideways trading, hovering in the $4,400-range, or about 1% below its all time high of $4,522.13 on the CoinDesk Bitcoin Price Index (BPI).

Similar, ether and bitcoin were mostly flat on the day's trading.

Read the full article https://www.coindesk.com/160-billion-cryptocurrency-market-sets-new-time-high/

[iram1011]

Trillion dollar marketcap by 2020 is very much possible. If we consider Bitcoin to be acquiring the half cryptocurrency cap in 2020 as well. Then the price need to touch $30k by 2020 which is most likely the case by analysing the growth this year. I think we can easily surpass $1 triilion marketcap by 2020. There is huge market awaiting with only some millions into cryptocurrencies.

[richardsNY]

Essentially, the crypto market cap in its entirety is just a non statistical figure. Altcoin market caps have been subject to all types of cheat tricks to boost their asset price, and thus their market cap. I prefer to only focus on how Bitcoin's market cap is performing, because this is the only crypto asset that is worthy of its market cap. Remember when people were getting pumped up because Ripple was going to surpass Bitcoin's market cap? Turns out, it already did surpass Bitcoin's market cap due to the 100 billion Ripple tokens being in circulation -- great manipulation!