Hello Everyone!
I haven't blogged about the Cryptocurrency market cap in a few days since the market has been going wild. However, plenty of people are not sure about the health of cryptocurrencies right now, so here is this morning's cryptocurrency market cap evaluation.
What I have noticed with my prediction tool:
- Today's prediction closely resembles my first couple of blogs. (effectively means that outlook is still good)
- It shows that my conservative approach to predicting is very close.
- So far, the cryptocurrency market has had roughly a 20 day setback.
30 day rolling average of cryptocurrency market cap = + $7.7 Billion per day
I estimate that cryptocurrency market cap will pass Apple for the #1 spot in 53 days.
I estimate cryptocurrency market cap will pass the total US dollar in 8 & 1/2 months
Don't forget to follow @socky for updated charts
what do you think? When do you think everyone will be converting to cryptocurrency?
I appreciate your market cap comparison chart due to accuracy of the major benchmarks coupled with your own predictions.
I am working on converting all my friends to crypto starting with STEEM get them some earned crypto to play with. I also got my mom some crypto. She did really good she bought at 11k and sold at 18k and now I am holding some nice over priced crypto till the market catches up.... Good thing to take the long ride these little down days are time to dip the cup back in and scoop some more out to put in the coin collection. Thanks @socky for the report. It is cool how 15 hrs after you write this the tide is rising again.
Thanks. I have been tracking the crypto cap as a health check of the crypto market to determine how much of my portfolio to invest. This analysis made me realize I should go all in crypto. My wife who is a financial analysis and a skeptic started to see the light went all in as well. This latest analysis made me realize that even though there was a correction, the crypto market is still healthy.
Yes I am ALL in as well. This time last year I did not even have a portfolio... I had $5 in a savings account so I could maintain a paypal account and I had all of my design clients pay me with paypal and I spent money that way. Then for my birthday Jan 22 my girlfriend @unityeagle gave me $52 worth of bitcoin. That has grown to over $1,000 this year. I saw the BIG GIANT writing on the wall. Steem was the first coin I bought after bitcoin and I made the mistake of moving all of my money from Bitcoin to STEEM, well in the long run it is a great move, as joining steem and securing 1200 steem power with the ride I took on Bitcoin opened up so many doors for me into crypto investing. Now I have learned how to turn my gaming pc into a mining rig and that is adding to my holdings every week. I have quadrupled my worth with steem so far and End up the year with over $7,000 in my portfolio. So from less than $5 in Savings to over $7,000 in crypto in one year is AWESOME to me! And I put in less than $1,000 of money I earned from my design projects. In 2018 I am turning the full force of my artwork at the crypto world. 10 years ago I sold a Ferrari Painting for $10,000 then my art was taking off and then the Houseing market crashed.... Now with the Crypto Boom I am going to go back to creating high end fine art paintings and Turn my brush strokes in to Satoshi and STEEM. Thanks for validating for me the land of crypto a little more than before.
very good analysis of background, the market cap is the essential point, even if gains are taken, investors are more and more numerous !! here in France a lot of people are just starting to talk about it !! the market goes up the crypto goes up !! a lot of% are to take on these movements !! thank you Mr @socky
Thanks for the reply. You are probably already aware that as Bitcoin takes up a huge percentage of the total market cap, it greatly affects the overall market cap. Whatever Bitcoin does affects the market cap. If Bitcoin goes up or down slowly, then the altcoins follow. It is noticeable that as Bitcoin goes up extremely fast, then it sucks the life out of the other altcoins as everyone tries to buy in. This is because converting from fiat to crypto is a slow process with limitations. The only other place find currency is in altcoins as they are very liquid. The problem with this is that the powerful players are manipulating the market. I think that eventually altcoins will grow to a larger percentage to help limit control and manipulation of the market. By the way, altcoins have been growing at a faster pace than Bitcoin.
I love this vision of the market, bitcoin is the mascot, the gateway for the moment, so that people are interested !! the various ways to go from FIAT to cryptos are constantly growing. Bitcoin will slowly lose its size but the market will grow with the altcoins. what will be the champions of 2018, the is the questions !! if we know how to answer the profits will be there !!
it's nice to read people who have deep thank you
I'm betting on Steem. HEAVILY....
i m betting too !! i take profit and i invest in steem too!! good choice !! we ha got STEEM POWER!!
I'm a crypto noob. Though I keep some, I trade. Watching bitcoin dropping down is worrying but nahh. A great opportunity to have more. Seeing the bright side! 😄 Cheers!
Great yrrr...
Arghhh!
I know don't panic.
However, today was the first day of many, logging in an seeing the SBD going less than $10 bucks.
Do you perceive this a temporary drop; or as some suggest, tanking back to the bottom dollar of a few weeks ago?
Peace.
Sorry, I was busy watching the market climb. LOL. It is anyone's guess at this moment.
SBD currently @$10. even...
Thanks for your honesty!
Peace.
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STOPApple is one company versus the entirety of the crypto-space. Some of these tokens are huge companies in themselves. I believe your predictions are right on the button, but the label "crypto cap" covers a huge space.
In 5 years, the large majority of people will have some share of some cryptocurrency.
this seems unlikely
Totally fair. I admit, the chart looks unreasonable. I as an engineer, I also went back and checked my math several times. A very conservative growth rate applied to the future was based off the growth seen in the past. If I were to get rid of the larger market caps in the chart and expand the smaller market caps out, you would see that cryptocurrency has already experienced a greater exponential growth.