USD 100bn increase in 7 days – crypto market back to bubble?
Back above USD 400bn! In the last month the market has not only managed to stabilize but also to make impressive gains. After a long time of decline since the beginning of the year the cryptocurrency market is now back in full bull state!
Prominent figures inside and also outside the crypto world recently made impressive claims supporting the price climb. Tim Harper, influencer and American venture capital investor, recently even announced that Bitcoin was “bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution.” His price target for a single BTC in the next four years is $250k.
As stated in our previous blog post, serious, institutional money is flowing into the market nowadays. This is certainly also one of the reasons for the last weeks’ bull run. But why so fast? The rapidness of the increase in market capitalization questions its legitimacy overall. As long as the market keeps climbing at the last weeks’ pace, bubble fears will increase equally fast – another crash in the mid-term would be the only logical consequence.
It is great to see the cryptocurrency market recover and strengthening. However, the pace at which it does, should not only raise sceptics voices but also doubts among investors.
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Interesting fact. Lets see if the bubble explotes or we are in front future millionaires.
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