Following a huge rally in Bitcoin valuation we now see the money flowing nicely down into all the other major Cryptocurrency markets. Litecoin began rallying earlier this week and has since topped the $300 mark. Then today Ripple has doubled in value reaching over $0.50 per XRP. Zcash has today increased 20%, EOS up 25% from yesterday, Ethereum up 25% from yesterday. All in all its been a fun ride for coin Hodlers.
With all this excitement the total market capital of the entire Cryptocurrency market has now topped half. a trillion
Since it peaked at $505 Billion it has dropped back and begun building again, the total market capital at time of writing sits at $498 Billion.
Will the markets continue to flourish over the coming days and weeks or are we due a major correction across the board, tell of what you think in the comments below.
In the short term I would expect the bullish trend in the altcoin markets to taper off as the weekend draws closer in anticipation of the CME Bitcoin futures that begin on Monday 18th December.
However in the final run up to christmas I see the markets being extremely bullish as we head towards 2018, which is being duped the ‘Year for Blockchain’.