Ethereum Up 10,000% in 16 Months — What’s Going On With Cryptocurrencies?
Published: May 15, 2017
At the end of 2015, the Ethereum cryptocurrency was worth $0.90. At the time of 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 baggers 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%!
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.
There are over 830 “altcoins,” as the alternatives to Bitcoin are called, out there, with new ones being added constantly. The “market cap” of all these cryptocurrencies combined, according to the Financial Times, has pierced the $50 billion mark.
It’s not some kind of bad joke. This is being played with real money. That it will inflict maximum pain on the latecomers — whenever this happens — is now perfectly clear…
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