Are You Dizzy From These Crazy Price Swings This Past Week?
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.
Litecoin making moves. Seems to me that it's going higher because it's so much quicker than Bitcoin right now. People are tired of waiting for their Bitcoin transactions and Litecoin is almost instant.
"Does anyone else see this as a MAJOR opportunity to get in now, while so few people even know about it yet. "
Yes, sadly i cannot afford to buy cryptos right now/wasn't able to buy when they were low.
I think it still is very low and great time to get in even on BTC/ETH.
Everyone has to start somewhere. We're still in the very early stages.
@richreck Yes true! it is still the early stages and people are going to be wishing they got in now even tho they think it's too late.
@rizatr I hear a lot of people say that it is too late to get in on BTC/ETH but I still believe it is a good time as well!
Yeah wait till we get to $1 Trillion Market cap, just $100 billion now.
Definitely looks like an opportunity... had no idea that Cryptos were still such a small part of the overall market. I can see 10x growth for sure over the next year and a half. Time to learn and capitalize on the upcoming growth. Upvoted and following you, thanks for a great post! Very much appreciate seeing the numbers in this context.
Thanks, you sound like you might be a Grant Cardone fan ❤️
Absolutely... looks like you caught me on the 10x reference ;)
I am a bit sceptical about the $1 Trillion Market Cap, but if it goes in the direction as we hope, it will be atleast $0,5 Trillion in 2019...
I think the crypto market will transfer 3d World Countries to Big players as they have nothing to loose. With the rising Internet coverage in Africa and in Asia this will be a huge opportunity! I am huge believer in the crypto market as we see in Europe what the Banks destroyed and many people lost their believe in them.
I definitely see a MAJOR opportunity! Now is for sure the time to get in and I really appreciate the wonderful thorough info you shared! @rickreck