Sunday, February 25, 2018

Top 10 Cryptocurrencies For the Past 5 Years And My Observation

By now, I believed most, if not all, of my readers have heard of cryptocurrency or minimally, the term Bitcoin? If you are the minority few that have not heard of it and why cryptocurrency could possibly the "new asset class"  that you could consider as part of your investment portfolio, head down to my friend, Christopher Ng's blog at Growing Your Tree Of Prosperity as he has started a new blog series on cryptocurrency.  

Cryptocurrency market is as volatile as it can get and double digits up and down within 24 hours is a common scene. So, if you are planning to plunge into it, do make sure that you are "invest" with your casino money (i.e. money that you are prepared to loss all without losing sleep), or if you are totally new to crypto, you might consider earning them (freely but slowly) as shared it in my earlier post.   

Recently, I chanced upon a neat picture on the Top 10 Cryptocurrencies for the past 5 years (see below) and thought it is worth sharing here. 

TOP 10 Cryptocurrencies By Market Cap (2014 to 2018):

My observations:
1. Bitcoin (BTC) is the mother of all Cryptocurrencies and personally think that it will continue to be the pivotal crypto for the next 5 years. The closest contender to dethrone Bitcoin is non other than Ethereum. 

2. 2017 is the catalyst year in crypto market as 9 out of the 10 cryptocurrencies achieved the billion dollars club in 2017 alone.

3. In the Jan 2018 list, half of the Top 10 cryptocurrencies (Bitcoin Cash, Cardano, NEO, EOS, NEM) are the new entrance, it shows how vibrant the market is and the increasing trend of new coins/tokens being introduced in the recent years.    

4. If you notice, there is a dip in Bitcoin's market cap in Jan 2015, it mostly due to the Mt Gox saga.  

5. Only 4 Cryptocurrencies (Bitcoin, Ripple, Ethereum and Litecoin) continuously in Top 10 positions since their introduction.

Following is the Top 10 position as at 25th Feb 2018:

Further Observation:
a. Except for NEM (being replaced by IOTA), all the other 9 cryptocurrencies are staying put (with some shift of position).

b. Due to the huge sell-off in the beginning of 2018, there are a tremendous drop in the market cap for all the Top 10 cryptocurrencies.

c. Most of the cryptocurrencies moved in tandem, with some exceptional like DGD (DigixDAO) which is usually moving in the opposite direction.   

Are you vested in cryptocurrency? What is your view?


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