Even if you’re not a crypto trader, this is still a good way to try to understand what is going on in the market. So far, the crypto market has been trading in the $600 range since the beginning of the year and has been trending down over the last month. I don’t think we’ll see a break in the $600 range for a while.
I was surprised to see that even though the Bitcoin’s market cap has grown by a massive amount over the last week, it has also been the smallest volume of all cryptocurrencies. In fact, the market cap of all cryptocurrencies has grown roughly 2-3 fold since the beginning of the year. At this rate, I think it’s only a matter of time before Bitcoin hits $6000 or $10,000.
As the price of Bitcoin continues to come down, I think it’s inevitable that it will reach the $5,000/BTC price level. After that level, I think we can expect a lot of volatility in the market, particularly in the short term. I think there’s a good chance we’ll see a sharp spike in volatility in the short-term to come from the price of Bitcoin.
One thing that is not currently known about Bitcoin is its relationship with other virtual currencies, such as Ether.
I think there is a good chance that Ether will be very volatile, especially over the next few months. Its current price at the time of this writing is $1,764. That’s a pretty wild move for something that’s around the $1,000 market cap. I think it’s safe to say that Ether is not going to be a huge part of any future Bitcoin price action.
Ether is currently trading a little above $300; but that’s only because it’s not a currency itself. It is a digital asset that can be traded on the Etherum exchange. The reason for the low Ether price is that the Ethereum blockchain has a very low supply of digital tokens. For example, the top 100 coins in the Etherum exchange have a supply of just 3,868,831,895 tokens. That’s a lot fewer than the supply of Bitcoin.
What is a lot more likely is that the low Ether price is just some random coincidence. Because the supply of Ether is so low, there will be more supply than that for weeks or even months to come. Ethereum’s supply is also still very low. It is even lower than the supply of Bitcoin, so it will take a long time for this Ether price to rebound to the levels of Bitcoin. Until then, its still a very good value to invest in.
A year ago, Ether was worth $2.49. Today, it’s a little over $1.50. This should be a good time to buy if you need some Ether.
Some people do prefer the idea of a profit motive. The main reason for that is that the cost of buying Ether is so low that it’s difficult to go over the price of the whole thing without some sort of profit motive. The only way that you could possibly lose money is if you were to buy it at a discount. It doesn’t work.
The reality is that if you’re buying ether and Ether are almost the same, then you should probably not buy Ether and Ether are usually the same.