Can the Crptocurrencies Take Over?

The crypto market continues to break new highs. In November, the Crypto market climbed to a market value of $300 billion. A growth of about $100 million in less than a month! The fear of missing the “crypto train” grows more and more relevant every day, especially with this wave of hype. But we have to ask, is this all happening too quickly?

In the Bitcoin sector, it seems that Bitcoin owners continue to reap the fruits from the forks (money came actually from thin air). As of writing this update, the value of Bitcoin + Bitcoin Cash + Bitcoin Gold is $11,800. In other words, Bitcoin continues to yield a very good return to its investors. The news about the forks, and the possibility of receiving more new money (only for holding Bitcoin) has attracted quite a few investors recently. We anticipate that more investors will be attracted to this opportunity.
There is likely to be more forks in the near future, but at the moment, it is difficult to predict whether that it will really happen, and whether it will turn out like Bitcoin Cash or Gold.

In the altcoins sector, there is stabilization both against the Bitcoin and against the dollar. In the past week, as a result of the market’s attempt to correct a bit from the downtrend, we do see a positive trend in most of the altcoins’ market. However, this trend was slowed down with the increase of Bitcoin towards $8500.

In this zone, only a small proportion out of all altcoins were doing better against their bitcoin’s value. Against the dollar, it seems that most of the major altcoins flourish along with the rise of Bitcoin. Even some of the altcoins such as Litecoin, Dash and Ethereum broke new dollar all-time highs.