Bitcoin has been receiving a lot of press recently over the massive returns it has brought investors in 2017. In the nine years of its existence, people have been made a number of millionaires and is restructuring where the power centers are in the world. It may seem that anyone hearing about Bitcoin now is late to the party but the truth is that Bitcoin and Cryptocurrency markets are still in its infancy. Here are some numbers:
- 10 million users have signed up for Coinbase. That is 0.0013% of the world’s population.
- Total market capitalization of cryptocurrency worldwide is around $150 Billion.
- In October 2017, 17.5 million Bitcoin wallets were registered on blockchain.info. That is 0.0023% of the world’s population.
To put that into perspective:
- Apple is $250 Billion in cash-on-hand
- Gold Market is estimated to be valued at $7 Trillion.
- Total Value of the Global Economy is $74 Trillion.
It is clear that the cryptocurrency According to MIT Technology Review, the cryptocurrency market is growing exponentially but at the same time has shown some signs of maturity. A study cited in the article predicts that the market dominance of Bitcoin will fluctuate around 50% in 2025, a percentage that has already been realized today. With Bitcoin bulldozing past $5,000 in October, the gains to be made in Bitcoin are limited. If you are looking to make huge returns similar as if you were buying Bitcoin in 2011, look into researching promising altcoins.