In the last months we have seen the value of Bitcoin reaching levels it never reached before. The value of 1 Bitcoin reached and passed, for a short time, the value of 1 ounce of gold.
Last Friday the SEC voted against the Winklevoss Bitcoin Trust ETF which shacked the price of Bitcoin bringing it from almost $1300 to under $1000, but since then Bitcoin’s price has recovered almost all that lost.
It’s clearly a sign that Bitcoin has value for many no matter what.
But what is even more interesting to see in these weeks is how the Altcoins are performing. On coinmarketcap.com it’s possible to see it in details.
The combined market cap of the “altcoins” has spiked to levels never reached before. Clearly Dash, Monero and Ethereum have contributed to that heavily but also all other altcoins with smaller volumes and market cap are helping.
If it was only speculation, then I would expect to see a more flat graph with peaks here and there across different coins, but instead it looks like more funds are coming in the crypto space and this is not only good for who invested in the technology but mainly for who develops it. More funds are the only way developers can continue doing the great things they are doing.
So let’s see what happens in the following days and let’s hope that also projects that are not always in the spotlight get their fare share of reward.