Bitcoin got a big bang when it was discovered in 2014, but its meteoric rise is now on the verge of reaching another peak.
With that, crypto-currency experts are predicting that the crypto-currencies boom is on track to hit a new peak by the middle of next year, and will likely continue to grow for the next year and a half.
Cryptocurrencies have been on a meteoric climb since the early days of the crypto revolution, but this year is no different.
According to the research firm Forex Insider, the total market cap of cryptocurrencies has hit an all-time high of $1.1 trillion.
Forex Insider says this is the first time in history that a currency’s market cap is this high and this quickly.
This is a new record, according to the firm.
It also said that in just one year, cryptocurrencies have surged more than 500%.
“This year is a major milestone for the crypto market, and one that is set to continue in the months to come,” the company said in a press release.
“We’re seeing a massive influx of capital into the market and the price of cryptocurrencies is set in stone.”
According to Forex Insiders research, there is a clear pattern emerging to the crypto phenomenon:The rising tide lifts all boats, as this year has seen a dramatic surge in the value of cryptocurrencies.
“Cryptocurrency’s value has exploded, and as of now, it is worth more than $1 trillion,” ForexInsider said.
Forexpredict.com said in its latest report that the total value of cryptocurrency assets in circulation has reached an all time high of nearly $3 trillion.
The market cap has surpassed $5 trillion.
“At $1 billion, it represents a value of more than 50% of global global GDP,” Forexpredict said.
According a study from the Financial Times, cryptocurrencies are currently trading at more than 100 times their pre-crisis value.
Forextrade, a crypto-finance firm, believes that the cryptocurrency boom is likely to continue for the foreseeable future.
“The recent crypto boom is in fact a continuation of the last boom, with a big one looming in the middle,” the firm said.
“But while crypto-assets are set to grow at a blistering pace, the crypto bubble may also burst sooner than anticipated.”
ForexInsiders said it has also predicted a significant increase in bitcoin volatility.
ForeXchange predicts that bitcoin will start to move higher this year.
The cryptocurrency has surged more then 600% since its price hit a record of $15,000 in 2014.
According the company, bitcoin’s price peaked in December 2015 at $5,000 and now stands at $12,000.
Bitcoin is up more than 3,400% from its lows of $2,000 just four months ago.
It is also up more then 500% since it peaked at $4,000 last October.
The biggest cryptocurrency bull markets were in 2013 and 2014.
The bull markets all ended.