Cryptocurrency is a Frozen Billon-Dollar Industry
Scroll DownThe crypto-currency market appears to be in a holding pattern at this point. Most of the coins are not reporting gains at all. In fact, many have been in the negative in recent days and weeks. The outlier in the group may be Bitcoin itself as it has always been the most famous and popular cryptocurrency. However, even the gains from Bitcoin have been pretty sluggish to say the least. At the time of this writing Bitcoin is hovering around a price of about $6,740 per coin. That is slightly up compared to where it was the previous day, but of course this is still well off of its all-time high around $20,000 per coin back in December of 2017. It seems that the public has cooled on the idea of cryptocurrencies in general, and this may mean that the coins are going to have a hard time keeping pace with gains in other types of investments such as the stock market. The stock market has been on fire with gains of course, and that has led many to begin to explore what it might be like if they dipped their toes into other types of investments outside of cryptocurrencies. At the same time, the fact that the prices have been able to remain at least stable or hold their own proves that is a strong and dedicated fan base of these types of currencies. No matter who you are, you have to admire that. The entire market cap of all cryptocurrencies put together stands around $218 billion worth today. That is up ever so slightly compared to the $214 billion that it was worth the previous day. It may not be much, but at least it is still headed in the right direction. This may be because new types of cryptocurrency are being introduced on a regular basis. It is pretty common to see new brands come onto the market by those who are eager to get their own share of the craze that has been cryptocurrencies. They are eager to see if they can be the next one to come up with something that the public loves.
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