The first week of the new, 2018 is slowly coming to an end. It is said that the first day or the first week, such a whole year. If in fact this saying works in this case, we would expect that there will be many more crypto-millionaires in the world.
The cryptocurrency market grew by 30% during the week
Only since the beginning of the year, the capitalization of the entire digital currencies market has increased by almost USD 183 billion, reaching its record levels at the moment. If the growth rate is maintained, today the valuation of this market could exceed USD 800 billion.
Interestingly, the altcoins are mainly responsible for these increases. Their value increased in recent days from USD 376.2 billion at the beginning of the year to USD 508.5 billion. This fact also made Bitcoin’s dominance in the cryptocurrency market currently only slightly above 36%. It is worth recalling that just a month ago it was over 67%.
The end of the correction on Ripple?
The Ripple, which for the first time in history has exceeded the $ 3 barrier last week, has gained enormous popularity recently. Its capitalization at the moment is almost USD 118.7 billion, which corresponds to nearly 15% of the entire digital currency market.
Looking at the quotations of this coin, we notice that as a result of the drops lasting from Thursday, the rate reached the area of local support (USD 2.40), where yesterday there was a demand reaction. If this zone is permanently rejected, in the near future we could expect further appreciation.
A review of events and analyzes from the world of cryptocurrencies is made in cooperation with the Polish BitBay stock exchange offering free accounts for trading on digital currencies. Acquaint yourself with the BitBay offer and start trading on BTC and altcoins now!
Bitcoin returns to the game
Despite the decline in domination, BTC holders have more and more reasons to be satisfied. The price of the oldest of digital currencies increased last week by almost 20%, thus breaking technical resistance around USD 16,200, which is the upper limit of local consolidation.
It would seem that there is less and less talking about digital gold lately. Nevertheless, I personally think that this is only a momentary silence and if only the BTC value exceeds 20k USD, the theme will come back to the mainstream.
It is also worth mentioning that although the official date of birth of Bitcoin is the moment of publishing the cryptocurrency manifesto by Satoshi Nakamoto, which took place on October 31, 2008, January 3 is also an important date in the history of the oldest cryptocurrency.
As given in information on the blockchain.info portal, the first block number # 0 was mined on January 3, 2009. The first transaction took place at 18:15 (server time), guaranteeing a commission of 50 BTC, currently worth over $ 800,000. It took 6 days to dig the next block # 1.
USA: Most people have no idea what crypto currencies are…
According to the results of Cobinhood’s latest survey, the vast majority of Americans have heard of crypto accounts, but have no idea what they are or how to invest in them. At the same time, 68% of respondents do not know what the ICO abbreviation means, referring to the debuts of new cryptographic tokens.
As we have already informed, more than 1,000 adult Americans have participated in the Cobinhood study. According to the results of the survey conducted on December 27, 2017, only half of people know what crypto-currencies really are:
- 56% responded that they act as a decentralized digital currency
- 22% claimed that they act as a digital wallet to process online transactions
- 14% consider them to be a technology that allows payment cards to be processed
- 7% see in cryptocurrencies the digital version of traditional money issued by the government
As the Cobinhood president, Popo Chen notes, even cryptocurrencies have become a popular topic of conversation lately, most people do not know exactly what they are or how they can be
used: “One of our missions is to educate the average consumer and make this whole new market open to all interested parties.”