The total market cap of all cryptocurrencies now stands at $500 Billion USD, or 0.5 Trillion dollars. Wow! I remember it passing $100 billion like it was yesterday.
What's most amazing about this is that only a few weeks ago, we were at $250 billion dollars. On the screenshot below you can see the total market cap of all crypto was about 50% less on November 23rd.
It's mostly Bitcoin, obviously, but still it is an amazing feat. I can remember only a few months ago that people thought it was impossible for prices to go much higher back then. Now that we are at 0.5 trillion dollars, it also shows that perhaps indeed there is potential to reach up into the trillions as some experts expect. They say the total value of Gold is about 7 trillion USD, so lots of room for growth still.
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Man, these crazy rallies in LTC and ETH seem a little overextended at this point. Imminent correction soon?
No, no, stay positive. Instead ask: When Moon?
I don't know if they are overextended, or undervalued. Compared to Bitcoin it could be the latter..
My line of thinking is that this spring X amount of people entered the space and at that time 'we' the community decided on a price for each of these compared to eachother. So now a new group of crypto investors are entering the space once more, I believe they are discovering alts right now. If ETH was 10% of a Bitcoin 6 months ago and nothing fundamental changed (except ETH got better and BTC got worse..) then one would almost think that the same should apply now. Maybe it's wishful thinking...
I am still holding on to my ETH for now though. I feel like it has more room to grow.. with some of these former 'shitcoins' catching up it and Bitcoin so high it feels like ETH should be a lot higher than it is now.
Litecoin.. I don't know. I was holding Litecoin for 3-4 years before I could get out. I am totally disillusioned with it and no longer believe at all in it.. I kind of think the only reason it's going up is because it's one of the few coins that is available as much as Bitcoin.
Cryptocurrencies activated turbo mode
It has been toying with the $500 mark for a few hours. Another milestone for cryptocurrency!
I actually stepped out already. I feel we are going to have a very bearish market come new year. At this point I am taking my profits and running with it. I might stick with bitcoin though. I think bitcoin will make another run past 20k and then I am out. I don't see a reason for eth and ltc to almost double overnight. I think there will be long correction period after this bull run.
Brave move, but you may be right. I have been expecting a bear market for some months now.. didn't expect us to get this high.
But, there's always the chance that this is the moment we hit critical mass. If you step out of crypto entirely and miss the ride, it would be terrible!
I myself, I kind of think I may just hodl through the bear market just like I did last time.
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