The price of Bitcoin is making all-time highs again and several other cryptocurrencies (also referred to as altcoins) have seen rapid price increases this year. Is 2017 the year of the cryptocurrency bubble?! Let’s look at a few charts to set the stage.
Total Cryptocurrency Market Cap
As of this writing, the total market cap for all cryptocurrency is now over $30 Billion! To put this into perspective, it was $7.1 Billion at the start of 2016 and stood at $18.3 Billion when 2017 kicked off. The total value of cryptocurrency more than doubled in 2016 and has grown by over 60% in just the first 4 months of 2017.