Although many expected that after a wave of incredible popularity from a year and a half ago, cryptocurrencies will only record a downward trend, it turns out that market realities show something completely different. The most popular virtual currency is gaining in value.

At the end of 2017, the cryptocurrency market was one of the biggest surprises in the financial industry, and Bitcoin’s record value (19.5 thousand dollars apiece) caused embarrassment of many analysts. In the following months, however, there was a significant decrease in the value of cryptocurrencies mentioned Bitcoin during the year decreased its valuation up to six times. From Bitcoin News you can now have the best supports and information in every possible way.

The Perfect Prediction

Many predicted that this was the beginning of the end of cryptocurrencies, but the virtual market once again played a tricky trick. Bitcoin has just crossed the limit of 10,000 dollars, which means that within six months its value has tripled. What’s more, this is not an isolated case – Ethereum also records record rates, and close to the top valuations from this year, among others Litecoin or Monero.

The reason for the hikes is seen in the announcements of the new cryptocurrency from Facebook – Libra. According to assumptions, it is to be the most serious candidate for Bitcoin, which caused a completely opposite reaction than that expected by Mark Zuckerberg and the company.

The popularity of virtual currency is surely expected by manufacturers of equipment used to extract them. The breakthrough of 2017 and 2018 was the best period in the history of Nvidia, the manufacturer of graphics cards, and the excellent results were also recorded by competitive AMD. The ready “excavators” prepared by the specialist BitmainCompany sold very well.

• Bitcoin’s valuation at the beginning of 2016 amounted to USD 430. Twelve months later, BTC was traded at 1,300 USD each. Another example of a drastic increase in value is Ethereum. Bitcoin’s successor was only worth 10 USD in January 2016, in December his valuation exceeded 50 USD.
• The buy and hold strategy for these cryptocurrencies could have yielded rates of return several times higher than traditional benchmarks. No wonder then that cryptocurrencies attract an ever-wider group of investors.
• Cryptocurrencies have come alive again. Bitcoin gained 35% within a month, bitcoin cash 17%, ethereum 6%, and litcoin 11%. The market capitalization of the entire market increased to $ 300 billion. Apologists for virtual money are full of optimism. There is no shortage of voices that the world’s largest cryptocurrency may still grow, beating the tops of December last year.

This may be a turning point for the largest rally of bitcoin bulls in history this entry from MatiGreenspan, an eToro cryptocurrency analyst on Monday caused a big stir among the crypto investors. Of course, bitcoin has recently gained again during the month by 35 percent, and only during the last 7 days by 11 percent. But can the fuel be enough for another boost? Supporters of virtual currencies say clearly – yes.