How Much Profit Have Cryptocurrency Investors Made In 2017?
We all know that cryptocurrencies are doing well in recent months. But the question is;
Exactly how well are they doing?
To answer this question, I decided to examine the market history of today's top ten performing cryptocurrencies. The goal was to see how much profit a $1000 investment would have returned today, if purchased at the start of the year.
You may find this useful if you have been curious about investing in cryptocurrencies.
You may find this painful if you were thinking of investing in altoins at the start of the year, but decided not to.
Bitcoin
Price on 1st of January 2017: $963.06
Price today: $1653.42
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$1716.91
Ripple
Price on 1st of January 2017: $0.006540
Price today: $0.222765
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$34,061.93
Ethereum
Price on 1st of January 2017: $8.26
Price today: $92.09
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$11,148.91
Litecoin
Price on 1st of January 2017: $4.37
Price today: $29.44
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$6,736.84
NEM
Price on 1st of January 2017: $0.003666
Price today: $0.115805
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$31,588.93
Dash
Price on 1st of January 2017: $11.26
Price today: $100.07
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$8,887.21
Ethereum Classic
Price on 1st of January 2017: $1.45
Price today: $6.78
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$4,675.87
Stellar Lumens
Price on 1st of January 2017: $0.002473
Price today: $0.049521
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$20,024.67
Monero
Price on 1st of January 2017: $13.58
Price today: $30.23
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$2,226.07
STEEM
Price on 1st of January 2017: $0.170216
Price today: $0.759043
A $1000 dollar investment taken on the 1st of January 2017 would now be worth;
$4,459.29
So, how well are cryptocurrencies performing in 2017? I'd have to say, very well. But, as well as they are doing now, I expect that they will do considerably better throughout the remainder of the year. These price increases are drawing a great deal off attention to digital currencies. As more people learn of securer ways to store their money, whilst having that money grow in value, rather than suffer through inflation, we can expect to see a lot more money entering the cryptospace.
If you're still wondering whether you should invest in cryptocurrencies, then hopefully this post helped you make up your mind.
I have invested some time into Steem, but I haven't gotten any time back from my investment. :-(
But, I do have some Steem now.
Ah. Well time is the most valuable currency of all some would argue. So, I hope you have enjoyed your time here on Steemit. If so, it was spent wisely.
Excellent overview! Now i still need to know what to do lol - resteeming
Yes, it's hard choosing one coin alone.. So I'm going to be choosing a few.
Excellent work dear friend @ son-of-satire, interesting material of much actuality, the meracdo is convulsed by the great movements in the criptomonedas in general, thank you very much for the information
Have a great day
So, how much have you profited? :D
*What advise would you give to someone wanting to invest in crypto right now? (I have this weird feeling I should have invested a few months ago, now it's all booming and might come crashing down.)
STEEM is the only cryptocurrency that I have been holding long term, but researching this post has inspired me to change that. I know what you're saying. I have been waiting for the prices to correct on a number of coins, but every time they go down, they seem to go right back up because there are investors/traders trying to buy cheap.
Finding a good entry point may be important, but if you spend too long trying to buy low, you may be forced to buy far higher than you would have if you had just taken action.
How can I get 10.000 $ for the initial invest? ;)
I'm afraid I don't understand the question. Can you rephrase?
Sorry, I was just joking. :)
Very interesting figures indeed. And I must say, I've heard some Dutch traditional investors talking about moving some funds into Cryptoland (trackers, not stocks are currency positions), and one of our co-Steemians got an offer from some private equity firm to help them with finding the right companies/currencies to invest in. So, yes, I can see where you're coming from wrt more attention to cryptos. The other day I was reading a post and some article of-Steemit regarding the possibility for a bubble within cryptoland, and more in particular in the coins itself (article: https://steemit.com/cryptocurrency/@thecryptofiend/are-we-in-a-cryptocurrency-bubble). Don't you think we may be in some sort of bubble? Not so many coins have real services, and yes, fiat money may come into cryptoland, but for any coin without a service, for any coin without things were the user/coinholder can spend their coins, the traders are determining the price of the coin. Don't you think that crypto traders are the very high risk taking traders, maybe because quite a few of them became rich over the course of the last 8 years since BTC is out in the market?
I'm looking forward your expectations coming reality, but it could also go the other way. Or?
I would only invest in a coin that had a unique service attached to it, a strong community behind it, and an active team of developers. These are the types that I believe will continue to rise as more people discover cryptocurrencies. But, I think a lot of the useless coins you speak of will ultimately die as more useful coins appear on the market.
Personally, I don't think that we're in a bubble. 52 billion is not much when you're talking about global currencies. I think we're just getting started. I'm no expert though, so perhaps you're right and we are about to see a serious drop in value for most coins. . Only time will tell.
52 billion is indeed peanuts :) In that sense, we cannot be in a bubble. We could be in though since most of the coins doe not have services around it, or when they do it is more paper and vaporware at this point in time. But at least the promises of some are interesting. For sure we are at the lower tip of the hockeystick and all coins still need to cross the bottom part of the stick, to be able to grow substantially.
Really Interesting Statistics thanks for sharing!