4/19/2018 Cryptocurrency Market Capitalizations
- Market Cap: $354,197,246,855
- / 24h Vol: $21,520,694,541 / BTC Dominance: 39.5%
As of 1:50pm PST the entire crypto currency market is sitting above a 350 billion market cap. That is 15billion dollars more than this time yesterday. 400billion will be the next significant landmark on the way up to 500billion.
A lot of money is quickly flowing into the market and we have been up trending now since March when BTC hit 6000 and there was only 250billion dollars in the entire market. Big investors like George Soros and Rockefeller have publicly announced their investment interests in Cryptocurrency and Bitcoin.
https://cryptocurrencynews.com/daily-news/crypto-news/big-investors-in-crypto-soros-and-rockefeller/
Goldman Sachs bought Poloniex , a crypto exchange platform (rumored to be a 400million deal), earlier this year in late February. This formally established their stance on the growing market.
As more and more big investors, institutions, and money flows into the market, it is only a matter of time before we reach a 500 billion, 750 billion, or even a 1 trillion dollar market cap. Why would larger establishments put millions into crypto, blockchain, and companies related to the market? If Bitcoin is worth 8k now with a 140bill market cap, what will its price be when it has a 300bill market cap again?
On Monday night 4/16/2018 I was lucky enough to go to the Beverly Hills Blockchain meet up headed by Stephen Meade. An event where investors, developers, researchers, and entrepreneurs can meet, network, and learn from each other. 3 companies presented their ICO's with a Keynote talk from Crystal Rose, the Co-Founder and CEO of Sensay, a Los Angeles-based artificial intelligence (A.I.) and communications platform and SENSE, a blockchain protocol.
https://www.linkedin.com/in/rosecrystal/
Although there were many fascinating points brought up during the duration of the presentation, I found a few things in particular to be notable.
- The Global Digital Landscape research done by MIT in 2017 found:
- 7.5 billion humans on the planet
- 3.8 billion internet users (50% penetration)
- 1.2 billion messenger users
- 2.8 billion social users (37% penetration)
- 4.9 billion mobile users (66% penetration)
- 50 million crypto currency users (1% penetration)
Fun fact: Anyone with a mobile phone, can get involved into crypto, but less than 1% of the world population is currently participating. What happens when 2% or 3 % of the world get involved? Smaller scale, what happens when 400 million people make an account? Every crypto exchange has had issues with their platforms because of the high demand to make and start accounts. Coinbase, the largest crypto exchange platform, is signing up over 100,000 new users daily and had to hire 500 new employees to their staff to handle to work load.
Another point I thought noteworthy was who came to the meeting. Needless to say everyone knows there is a lot of money in Beverly Hills, and the attendees not only had money, but social, and even celebrity status. Seeing the crowd of people who were attracted to this meeting showed the diversity people interested in the space, and how it has grown over the years.
If you understand importance of volume, market cap, and the basic principles of supply and demand then you will understand why a 1% global penetration, diversity in the investment field, and the attraction of big names and institutions is so important right now. The potential for cryptocurrency and blockchain is so great because we haven't even scratched the surface.
Ask yourself better questions and you will get better answers: "Is Cryptocurrency and blockchain going away in the next 5years? Next year?"
"What is the likelihood that the global cryptocurrency will reach a 1-2 trillion dollar market cap by the end of the year when we consider that the global stock markets have 70-90 trillion market caps, when gold by itself has a 7 trillion market cap, and when the DOW can loose 2 trillion dollars in 1 day?"
"Could 1-2 trillion dollars work its way into crypto? Could 5-6 trillion dollars work its way into crypto?" Is a 2-5 trillion dollar market cap in crypto a conservative number by the end of the year? I think so.
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LEGAL DISCLAIMER: I am not a financial advisor, nor is this intended to be financial advise. I encourage you to do your own research considering this blog is a way for me to document my own personal analysis, charts, trading decisions, and experiences.