1 July, 2022 seen 46I love challenges, cryptocurrencies, and trading. A few weeks ago, before/during the crypto crash I sold all my BTC and…
According to coinmarketcap.com website, the total crypto currency market cap in July 25, 2017 is $95 bln.
Bitcoin leads the market taking almost half of that = 47.4% or $45 bln, followed by Ethereum with $20 bln, Ripple $7,3 bln, Litecoin $2,,3 bln and Dash with $1,5 bln.
In total there are 828 crypto currencies listed on coinmarket.com in July 2017
TOP 5 crypto currencies by market cap July 2017
As I've investments in 4 out of 5 top crypto currencies by market cap (I hold some BTC, ETH, XRP and LTC), I've noticed by reading forums that in most times when trying to forecast future prices for any of crypto coins, it's always about market cap. The larger the cap, the higher the price. Not sure is is so indeed, but hypothetically let's make some calculations (and if numbers mentioned bellow will come, then compare).
Please note, I'm not a financial advisor, and all written bellow is just my subjective opinion, most probably it's wrong.
The magic formula is pretty simple - if you want to double your investments in bitcoins, the market cap should double as well. Technically speaking, if such scenario is taken into consideration, then most probably we will see price of about $5,000 per bitcoin at the time when bitcoins market cap will be, if, in rage of $85 - 90 bln.
There are many speculations for Ripple, even I bought some with fomo (fears of missing out), as of writing this, ripple is sold at $0.19, with a market cap $7,36 bln, to see a ripple/dollar parity (1:1) it would ask to increase ripple's market cap 5 times, resulting in $36.5 bln.
Looking at ether selling at $1,000? Simple, (1000/224)*20= $92.8 bln market cap.
Now I'm not saying it's completely true, but there are some patterns in the past.
As I'm a complete novice to crypto currency investments with less than a month experience, just touching the surface, learning more about blockchain and so on, I find it interesting to see how the total market cap for crypto currencies will evolve. Is there a room for a trillion dollar market some day, in 3 years, maybe 5 years?