For the first time, the value of the global cryptocurrency market has exceeded $160 billion. It’s been on a huge uptick throughout 2017, starting out at $10 billion at the beginning of the year and hitting $100 billion in June.
Bitcoin obviously has a big role to play in this success — it’s still the biggest name in cryptocurrency, and experts predict that it could hit a value of $20,000 in the next three years. Credit also has to be given to its recent fork Bitcoin Cash which is establishing itself rapidly, and the increasingly-popular Ethereum.
This is a very interesting time for the cryptocurrency market. As countries like Estonia consider offering their own tokens, and the US Congress drafts a bill that could foster its mainstream usage, a huge amount of money is being invested in virtual cash.
Cryptocurrency seems set to be adopted by the masses at a scale we haven’t seen before. This could bring about some big changes to the global economic market — and it could even spell the beginning of the end for fiat money as we know it.
Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.