The Crypto markets are relatively healthy this morning. Bitcoin (BTC) is stable at a value of $9,303; Ethereum (ETH) is trading at $678; Ripple (XRP) is valued at $0.84; Bitcoin Cash (BCH) is strong at $1,394; EOS is bullish and headed towards shattering previous records as it is trading at $18.61; Litecoin (LTC) has settled to the number 6 position on coinmarketcap to trade at $150.
Tron (TRX) is doing 10% gains in 24 hours and trading at $0.08.
One thing that many traders in the crypto-verse love doing, is the analysis of their favorite coins uysing their values 12 months ago. In today’s article, we will do just that so we can know how far we have come as a crypto currency community in terms of the added value of our favorite coins.
Bitcoin (BTC): The value of BTC on 28th April, 2017 was $1,200. Considering current values, BTC has done 675% in gains in 12 months.
Ethereum (ETH) was trading at around $60 one year ago. Looking at current values, the coin has done a cool 1,030% in gains to be trading at $678.
Ripple (XRP) is one of the favorite coins for this type of analysis as you shall find out. XRP was trading at $0.033 on April 28th last year. Referencing today’s values, the coin has done a cool 2,445% in gains, and ignoring its peak value of $3.82 back in January. Wow!
Another favorite coin of the Cyrpto-verse, Litecoin (LTC), was valued at around $15 one year ago. Referencing current values, LTC has done 900% in gains.
Bitcoin Cash (BCH), Tron (TRX) and EOS (EOS) had not been created one year ago on this date. Yet they are performing pretty well in the markets. This should be a reminder that the Crypto markets are an accelerated version of regular stock markets.
To add is that one year ago on this date, the total market cap of Crypto was a little bit shy of $40 Billion. Now the total market is worth $422 Billion. An increase of 955%. The question now that lingers, is if the market will do another 955% by the same time next year. If this happens, the total market capitalization will stand at $4 Trillion and our favorite coins would have increased by a factor equal to, or close to 10.
With all these self evident gains in the market, one can wonder where the panic about crypto is stemming from. Cryptocurrencies look like there are here to stay and plan on doing some more gains in the future. This is the sole reason why more and more rich investors are interested in the crypto markets for they have seen the future is bright and very profitable.
[Photo source, usethebitcoin.com]
