FX.co ★ Cryptocurrencies attract buyers’ interest

Bitcoin remains quite popular among investors. The exchange rate of this cryptocurrency has reached the record high of $1,331. Overall, Bitcoin has added 30% year to date according to CoinDesk Bitcoin Price Index.

Currently, the total value of the market, which includes 100 of the most popular cryptocurrencies, is $32.8 billions as estimated by the experts from Coin Market Cap. This level of capitalization is higher than Twitter has and accounts for almost half of the Netflix share capital. In 2017 the volume of the cryptocurrencies market doubled owing to an increase in demand for Altcoins such as Ethereum, DASH, Ripple and Litecoin. As the competition in this segment intensifies, Bitcoin is losing its market share despite solid growth. The proportion of Bitcoins in the market has already fallen to 67.5%. Probably, the situation will change in the nearest term as the number of Bitcoin users is growing fast. For a year, the Blockchain.info bitcoin wallet attracted 6 millions new customers. The client base of Coinbase is about 6 millions people. Both these popular wallets serve about 20 millions clients.

Experts advise to hurry up and buy cryptocurrencies. Blockchain CEO Peter Smith and Jeremy Lew, an investor from Snapchat, expect that the exchange rate of Bitcoins can reach as high as $500,000 by 2030. At the same time, CEO of the BTCC Chinese exchange Bobby Lee anticipates that the cryptocurrency will appreciate to 5-11 thousand dollars by 2020.