Another Billion has been added over the last week of trading, putting the new market cap above 13 Billion. This is good news for investors who stayed in on the Alt-coins since this most recent bullish pump not only benefited Bitcoin, but many of the Altcoins including ETHER, which is at a new USD high of $17.34 per unit, up 14% on the day.
Bitcoin also recently passed $715 USD before idling back down to its current position of $687.56, which is making investors eager to see how far the price will climb before the reward halving. One would likely forecast that the price will continue to rise, even if it is from the mining companies who are forced to raise the price to ensure enough revenue from their mining operations to continue production. In fact, with the higher price, some mining companies are getting some of their highest profits in months, but whether these most recent increases get paid to investors who have stakes in mining contracts remains to be seen. Will many of the the contracts that have been stagnant like the CEX.io GHS, Zeus Hash, and other contracts begin to pay again with the increased profitability?
We will be keeping a close eye on this over the coming weeks and months as price points adjust to adapt to the new reward levels.
Other coins such as DGD- DigixDao, Earthcoin, Monero, Litecoin, and other also made gains, which suggests that investors and developers are using traditional fiat to raise these prices, and SiaCoin adn DAO Coin also made some gains and achieved over 1,000,000 in trading volume so far today.
Another interested anomaly for the top volume coins of the day includes the fact that all the prices for these coins is up over the last week of trading, where many investors sold off their altcoins to save their BTC during the price jump two weeks ago. The difference this time is that not only Bitcoin made price gains, but also many altcoins which is leaving many investors on the edge as to what coins they should hold, buy, or sell. One thing is certain, the market cap is growing quickly, and the industry seems to be attracting lots of fresh investors who are eyeing the rapidly climbing prices as a trend to come, especially if ETHER has actually released the homestead and is migrating from the Pioneer phase.
Let The Discussions Begin!