The explosive growth of the cryptocurrency market even has readers of blockchain news site CoinDesk thinking there is a bubble in the $ 164 billion market. Since the beginning of the year, the market cap for digital coins has increased $ 146 billion, according to data from Coinmarketcap.com, an 811% increase. That growth has been fueled in part by the appreciation of bitcoin, the original digital currency, and initial coin offerings, the red-hot cryptocurrency-based fundraising method. A…"SURVEY: The majority of CoinDesk readers think there’s a bubble in cryptocurrencies"
LONDON – Startups around the world are raising hundreds of millions of dollars by issuing new digital coins, a trend that has made people both excited and concerned. Over half a billion dollars has been raised through so-called “Initial Coin Offerings” (ICOs) since the start of the year, according to Richard Kastelein, a partner at the Cryptoassets Design Group, a company that helps launch ICOs. It’s an incredible amount considering that ICOs were unheard of…"People are raising hundreds of millions selling digital coins online — it’s either the future of funding or a ‘bubble’"
There are still some question marks about whether bitcoin is in a bubble. But the speed of its price growth is already nearly unmatched. The cryptocurrency has surged 162% in very volatile trading this year amid continued demand. But as the chart below illustrates, bitcoin’s longer-term rally by as much as 1,000% was swifter than homebuilder stocks in the lead up to the housing crash. Jeffrey Kleintop, the chief global investment strategist at Charles Schwab, said that “the…"Bitcoin’s ‘bubble’ is unlike anything we’ve ever seen"
This story was delivered to BI Intelligence “Fintech Briefing” subscribers. To learn more and subscribe, please click here. On Thursday, bitcoin prices reached an all-time high, trading at $ 1,820 at this time of writing to beat last week’s record of $ 1,461. This meteoric rise is likely still being driven by the impetus coming from Japan — trading volumes soared on its bitFlyer bitcoin exchange due to major institutional investment into the platform in…"Bitcoin may be headed for a bubble"