The cryptocurrency market cap reached a new all time high record, surpassing $800B!!t has a nice ring to it, It even makes a great headline for an article, but do we really care? being a part of this world we should all be jumping out of our seats with joy, are you celebrating? We know that we’re not.[<img src=”http://www.google.com.au/images/nav_logo7.png”>](http://google.com.au/)
The crypto markets are breaking new records every week, it is reaching altitudes that a year, even 3 months ago, seemed like a distant dream. Its overshooting all of our expectations and wildest dreams, but it is doing too much and way too quickly, that it’s becoming alarming.
There is no doubt that 2017 has been an amazing year for crypto investors, seeing a mind-blowing 4,800% increase, after closing 2016 with a little less than $17B, by all standards is hard to believe. Maybe a little too hard to believe, maybe that is the reason we hear more and more people calling it a ‘bubble’.
Who would have thought that what was, until not so long ago, just a few geeks with a crazy dream, would even be considered to be a financial ‘bubble’ in such a short period of time, certainly not our industry leaders and founding blockchain fathers. But we see more blockchain icons like Mr Buterin, who believe that “…we are in a bubble because all the cryptocurrencies are rising and people have a feeling that they will always continue to rise…”. That sums it up pretty well. That alone should scare a few people away, but it doesn’t really, the money keeps pouring in, and the industry keeps on growing.
The cryptos follow no traditional rules or patterns, they pave their own way. In these uncertain times, to try and understand where we’re standing, we usually look back at the ‘Dot-com bubble’ for reference. Between 1998-2001 over $6 trillion were raised for various internet ventures with grandiose ideas, of course not many survived, but some did. That piece of information should be a little reassuring, the cryptos haven’t even reached $1 trillion yet, we’re still far from those numbers, but at this pace, it won’t take very long before they do. Whether this is a bubble or not is debatable, either way, when breaking records becomes ‘old news’ its time to stop and think.
Trade smart, trade safely and don’t blink, we might reach 1T by the time you open your eyes.