Crypto YTD Performance (BTC, ETH, XRP, Steem & SBD)

in #steem • 6 years ago (edited)

Index - https://steemit.com/tax/@alhofmeister/4njxqk-accounting-and-finance-blog-index

Introduction
In this post, I wanted to present two graphs. The first graph shows the total market capitalization of the 3 largest cryptocurrencies compared to Steem & SBD (demonstrating the growth potential and the relatively small market share of Steem & SBD). The second graph shows the year to date performance of each of the 5 cryptocurrencies (current market cap / market cap as of January 1). As demonstrated by the second graph, none of the currencies are above their January 1 level, but Ripple has significantly under performed compared to the rest of the group. Also note that Steem and SBD have been outperforming BTC and ETH. By examining the daily trading volume of SBD & Steem on 4/2, it becomes obvious that a pump and dump occurred. This will be another recurring article that tracks the performance of the aforementioned cryptocurrencies.

Market Capitialization

YTD Performance

References
https://coinmarketcap.com/currencies/bitcoin/historical-data/
https://coinmarketcap.com/currencies/ethereum/historical-data/
https://coinmarketcap.com/currencies/ripple/historical-data/
https://coinmarketcap.com/currencies/steem/historical-data/
https://coinmarketcap.com/currencies/steem-dollars/historical-data/

#sbd #bitcoin #cryptocurrency #money
6 years ago in #steem by
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     6 years ago 
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     6 years ago 

    The next few weeks will be interesting... if the IRS cracks down on crypto traders for unreported earnings, it could lead to a massive sell off to cover taxes and fines. If not, I expect prices to start creeping upward again, similar to Q3-Q4 2017.

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     6 years ago 

    I believe that the brunt of any crackdown will occur in 2018. The IRS, SEC & CFTC have been pursuing exchanges, and working to set up the framework necessary to identify investors (through issuance of 1099s, requiring exchanges to register with the SEC, etc.). I wouldn't be surprised if taxpayers woke up in 2018 to a reporting structure similar to stocks and bonds.

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     6 years ago 

    In fact, Steem could surpass bitcoin by 2021... Let's just say it has more potential.

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     6 years ago 

    Coins mentioned in post:

    CoinPrice (USD)📈 24h📈 7d
    BTCBitcoin8155.180$2.84%17.79%
    ETHEthereum520.148$3.09%22.73%
    SBDSteem Dollars2.916$16.23%49.0%
    STEEMSteem3.007$13.49%55.45%
    XRPRipple0.709$7.25%39.53%
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