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The main players in the global technology scene are meeting this December in Helsinki, for a very special purpose. The Slush Conference, which began yesterday, brings together 20,000 players in the tech world, for a two-day discussions. Several business leaders, journalists and personalities from the world of finance, including Albert Wenger (president of Union Square Venture), are taking part. In particular, he spoke at CNBC about the cryptocurrencies and their future in the stock markets.
According to Albert Wenger, this market is still showing signs of an unreasonable surge in comparison with the fluctuations of recent days. However, this asset may well be subject to further spectacular growth in the near future. For the Union Square Venture president, cryptocurrencies taken at a whole, could be worth billions of US dollars. But for now, we are still far away. It should be remembered that Union Square Venture is one of the largest venture capital firms in the US.
Glorious days are waiting for crypto currencies, but the bubble theory is the main risk mentioned in relation to this asset. Even if many actors in the stock exchange industry, agree that cryptocurrencies are evolving in a bubble right now, its bursting would not be unheard of. In fact, this asset has already even demonstrated its ability to pass such a test. May you remember the events of 2013-2015! During this period, Bitcoin went throught a crash that made it lose 86% of its value.
But as we can see, the trend has resumed its flight and reached the edge we all know today. It is true that when it comes to stock markets, price volatility and a continuous uptrend are red flags. But for Albert Wenger, there are some similarities between graphs representing the evolution of Bitcoin, and those of large companies like Amazon. In fact, between 1999 and 2001, Amazon experienced a crash that caused the loss of 95% of its worth.
To date, the Amazon share is worth about $ 1134. For bitcoin, the equivalent would be a price hovering around $ 10260. And this is not an isolated case. Nvidia, the computer giant, experienced a similar situation between 2007 and 2008. Period during which, the share price
But at this level too, the share has resumed its rise and is now worth about $ 187.
The case of cryptocurrencies is not exceptional. And despite the alarmist remarks of some analysts, we can say with some certainty that this market will once more, survive a bubble burst. There is no fatality at this level. It is even a phenomenon that we see every day and it is a very common behavior to uptrend assets.
The Dow Jones Industrial Average for example, suffered in 1930 an experience worse than bitcoin's in 2015. The asset had lost about 89% of its value. But today, the Dow Jones industrial average hovers between 4697.9% and 7601.3%. Clearly, that equates to roughly $ 70000 for 1 bitcoin.
“At the point where it is, the value of the asset could actually collapse. But there is also a strong possibility that in the future, cryptocurrencies taken as a whole, will worth several billion US Dollars.”Albert Wenger, President of Union Square Venture. And for the moment bitcoin is doing very well on the market, and no clue, a priori to predict an imminent significant fall.
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Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
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Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
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Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
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