In June, Bitcoin reached the $ 3,000 mark for the first time in its history, according to the Bitcoin market Coindesk. The current price of bitcoins had reached $ 3,041 but then it has fallen below $ 3,000. At the same time, it has come to a maximum of $ 2,999 in Coinbase and $ 2,997 in CoinMarketCap. Ethereum has also surpassed a high record, breaking above $ 300. The cryptocoin has surpassed the $ 350 mark, and experts assure it could go over $ 400 very soon. Since the start of the year, the bitcoins exchange rate has increased more than 200%, outperforming the main players in the stock market such as the S & P 500 and Nasdaq, according to CNBC. At the beginning of June, the stock exchange capitalization of all cryptocoins was over $ 100 billion.
This cryptocurrency has overshadowed all other coins in the market.
Only in June, Bitcoin has had a yield of 22.09%, and so far this year this virtual currency has nearly tripled its price. The outstanding performance of Bitcoin has brought its value to more than double the price of gold, which is $ 1,294.16 per ounce. So far in June, the cryptocoin has had an increase of 22.09%; Since it began trading above gold (April 25) of 121.09% and so far this year, it has nearly tripled its price, with an increase of 191.44 percent.
“2017 began with a market capitalization of the cryptocoins and tokens of 17,679 million dollars. It currently exceeds 91,000 million, an increase of 415 percent. The market capitalization of Bitcoin (41 billion) and Ethereum (22 billion) goes beyond this year-end figure alone,” according to José Rodríguez, a bitcoin and cryptocurrency analyst at Top Money Report, in a published paper On June 5.
At the end of the year, Bitcoin at current levels ($ 2,900) would mark its second best annual performance, only surpassed by what it did in 2013, when its price rose 5,428.70%, going from 13.24 to 732 dollars per unit.
The high rate of bitcoins can represent high risk
The aggressive yields that Bitcoin has had come with a significant risk. On May 27, the price of Bitcoin plunged 10.43%; In three dates (between May 25 and 27), its price fell by 16%, from 2,420.29 to 2,042 dollars per unit.
The market capitalization dropped to 56.9 billion, which represented a total loss of cryptocoins of 37 percent. However, as of this date new historical highs have been recovered and established, which would indicate that this month, even this week, Bitcoin could reach the 100,000 million market capitalization for the first time, marking a new historical high.
How can you find Best Crypto Exchanges of 2020? Well internet has introduced great technology to us. The inventions have made it possible for us to get the crypto exchanges. In return of one cryptocurrency you can get another. It is seen that 100,000 million market capitalization for the first time, marking a new historical high.
Just to offer a better perspective of what this increase means in terms of local currency we can present this example: if a person invested $100 in 2009 when Bitcoin’s value was of $0.03 per coin, this person would’ve been able to buy 3,333 Bitcoins. That means that if they had kept those 3,333 Bitcoins properly stored in a wallet since 2009, the value of their coins with a BTC price today of 1 BTC is equal to $2,900, this individual would be the current owner of a fortune valued in $9,665,700. Making almost ten million dollars in less than ten years then becomes an excellent incentive to invest in cryptocurrencies.