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The total value of all the cryptocoins recorded on various blockchains is currently in excess of $100bn. That’s value created from nothing in less than ten years – and backed by nothing at all.
Can it carry on rising?
After all, the cycle usually goes boom, then bubble, then crash. We’re certainly in the boom phase now, but have we reached the bubble? And if so, how big can the bubble get before it bursts?
It’s impossible to know, but it’s worth bearing in mind before you throw yourself whole-heartedly into investing in bitcoins or altcoins that the high values may not last.
Having said that, it’s most likely that cryptocurrencies are here to stay – so if there is a crash, it will be an ideal opportunity to get into the market.
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