The total cryptocurrency market capitalization reached $400 billion dollars today. At the moment of writing this article, the market have a value of $400.5 billion – with a gain of more than $100 billion this month.
Crypto Market Capitalization Increases
The market didn’t see a $400 billion market capitalization since the beginning of March, when the market seemed to be recovering part of the value lost during the last important dip. Most of the cryptocurrencies experienced a downtrend since their all time highs that affected the whole market and its value.
In the last two weeks, most of the virtual currencies in the top 100 ranking, have increased their value. The downtrend seems in a pause and we could be watching a trend reversal right now.
The most important cryptocurrencies in the market are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), EOS (EOS), Litecoin (LTC), Cardano (ADA), Stellar (XLM), MIOTA (IOTA), and NEO (NEO). These cryptocurrencies account for 80% of the total crypto market capitalization.
At press time, Bitcoin is being traded around $8934, Ethereum at $638,21, Ripple at $0,8739 and Bitcoin Cash at $1,419.
In the last weeks, some institutional investors have suggested that cryptocurrencies have reached the lowest point of the year and that now, the next two quarters will give good results for crypto investors.
According to Pantera Capital, Bitcoin could cross the $20,000 barrier that was reached in December 2017.
Dan Morehead, CEO of Pantera Capital, commented back in December 2017:
“Bitcoin could be down 50% next week [in fact it happened] … where it was a month ago, but in a year, it will be much higher than it is today.”
John McAfee mentioned that for him, $20,000 dollars for each Bitcoin this year is a very low prediction. For him, Bitcoin will reach $1 million dollars by the end of 2020, and he made a very stunning bet if Bitcoin price does not reach that price.
Bitcoin at $20,000 by years end? I believe that's absurdly low.https://t.co/uZs1yYTIMx
— John McAfee (@officialmcafee) April 16, 2018