In BriefThe global cryptocurrency market has exceeded a value of $160 billion for the first time. Bitcoin, Ethereum, and Bitcoin Cash are leading the charge, but this number reflects the enduring strength of all kinds of different tokens.
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.