The news of the last few days is the strong rise of Bitcoin, which went from US$ 9,000 to US$ 12,000, to stabilize at the time of writing around US$ 11,200.
In today’s reflection, let’s focus on how the crypt coin sector is growing very strongly in recent days. A strong inflow of capital is noted in the TOP 10.
When we talk about cryptomonies it is much more than Bitcoin Up, it is a bet on the new Blockchain technology, which has several projects that are more than promising.
Crypto currencies in your investment portfolio, of course
Market capitalization in the Cryptosystems
At the time of writing, the market capitalization of cryptomonies is around $343 billion, the highest value for the year. Bitcoin continues to be the great dominator with 60.3%, according to information provided by the portal CoinMarketCap.
Between Bitcoin, Ethereum, XRP and Tether, 80% of the money circulating in the crypt coin market is concentrated. It can be said that the strong point of the investors is in these crypto.
Then, there are the Bitcoin forks in its two most important versions (BCH and BSV), the Litecoin, Cardano, Chainlink and Binance Coin, completing the TOP 10. Both LINK and BNB are the big promises of the cryptomoney market. These projects must be followed closely.
The crypto index flies
The BITA 10 index, one of the most closely followed indicators of the crypto market, due to its relevance and liquidity, is at annual highs, up to 3850 points, as can be seen in the graph below:
This index is very interesting to easily position yourself in the 10 main cryptosystems. It can be traded through a CFD via the Plus500 online trading platform. Another advantage is that you can also position yourself downwards.
As long as countries continue to issue money to mitigate the effects of the pandemic, investors will continue to run towards safe havens such as gold, silver and cryptosystems.
Finally, I ask you: Is this a good time to invest in cryptomonies? Let us know your thoughts in the comment box.
I’ll say goodbye until tomorrow with this line from Warren Buffett:
„Financial markets are designed to transfer money from the impatient to the patient.“