The cryptocurrency industry reached a staggering market cap at 1.1 trillion US dollars after Bitcoin and Ethereum sharply jumped in both price and demand recently. The crypto market added 50 billion US dollars to its market cap once the price of Bitcoin passed 38,000 US dollars. Bitcoin has been pretty bullish for the past week and its market cap lingers around the 700 billion mark. The second most popular cryptocurrency, Ethereum reached a peak at 1600 US dollars which is also a record price. It has seen a 30% increase for the past week and its current market cap is 190 billion US dollars. The other cryptos that have had a good run since the beginning of the year are Cardano, Litecoin, and Stellar. The cryptocurrency boom that occurred for the past few months has been incredible, I wonder how the market will develop in 2021!
The DOGE coin though. Record highs yet again tonight. I think they will push it to a single buck soon. Just shows you how a made up joke of coin now has substantial value. That's what happens when the fed prints trillions. All asset classes rise and rise and rise.
this has nothing to do with the fed, well little perhaps. Cryptos have their own fed, BitFinex with its tethers. Tethers literally being printed out of thin air and used to purchased BTC, pushing it higher and higher.
Elon and others are pushing DOGE (in TWTR) for some reason, or they are just playing with folks just like GME...
I still think it's a joke. I'm literally long with less than 1% of my entire portfolio. You really think I'm going to sink 10-20-30-60% into that garbage.