Up 10,000% in 16 months? These charts truly depict our crazy times:
by Wolf Richter, SRSRocco:
“One word, a question: Etherium,” said the guy at my swim club on Sunday. “What do you think? It’s a ten-bagger since January.” Meaning that the value of the cryptocurrency has multiplied by ten in the four months since January 16.
It’s actually more than a “ten-bagger.” At the end of 2015, it was worth $0.90. As I’m writing this, it’s worth $91.30. Those who bought it at the end of 2015 had a ten-bagger on their hands by January 16, 2017. Those who bought at that time also have ten bagger on their hands. Those that rode it all the way up over the 16 months have a 100-bagger. For percentage fans, that’s a gain of 10,000%.
Here is the chart of this financial miracle (via WorldCoinIndex):
What miracle “asset” did they get when they bought it? Don’t even ask. Just believe in it. It certainly isn’t a usable currency for legit purposes, obviously, given this kind of insane instability. But it really doesn’t matter what it is as long as it is going up.
By “market capitalization,” ethereum is now the second largest cryptocurrency at $8.4 billion.
READ MORE HERE: What The Heck’s Going On With Cryptocurrencies?
As I mention in my previous article, PAPER vs PHYSICAL: The Amazing Amount Of Leverage In The Silver Market:
Currently, the crypto-currencies are experiencing huge gains over the past several months. It doesn’t matter if an individual agrees with owning Bitcoin or one of the many crypto-currencies, the important thing to understand is that the tremendous price increases in many crypto-currencies are likely due to concern to the massive amount of Central Bank $1 trillion in asset purchases in the first four months of the year.
Furthermore, crypto-currencies are a likely a GOOD INDICATOR of what will take place in the gold and silver market when investors realize most STOCKS, BONDS and REAL ESTATE values will continue to implode as the U.S. and Global Oil Industries disintegrate.
The gold and silver prices are being capped because paper contracts can be added as more funds move in. However, crpyto-currencies do not have this problem because the amount of Bitcoins, as an example, are limited.
Precious metals sentiment is very similar to what was taking place in Ripple for the past several years as trading volume and interest were FLAT-LINED:
You will notice since the May of 2015, trading volume and interest in Ripple was very low. However, in just the past 11 weeks, Ripple’s price has increased 3,500%. It is interesting that interest in these Crypto-currencies has exploded as the Central Banks purchased $1 trillion in assets during the first four months of 2017.
The reason the Ripple Price is able to surge higher, is due to a LIMITED number of outstanding Ripple coins. This is much different than Gold and Silver that are traded on the exchanges. Gold and silver’s prices are capped as more and more paper contracts are added.
However, at some point, what is currently taking place in the Crypto-Currency Market will also take place in gold and silver.