The bull finally seems to be smiling on the cryptocurrency market with a vast majority of the coins on the upsurge. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and XRP were all riding the bullish wave, much to the delight of holders and enthusiasts alike.
Bitcoin [BTC] which broke the $7000 barrier on 15th October, has created a buzz in the cryptosphere by reaching the point in time, where last year the cryptocurrency peaked to a record high value. The cryptocurrency is being discussed by a lot of mainstream parties adding to the mainstream adoption chorus. A Poland based research titled ‘Bitcoin market route to maturity’ even talked about Bitcoin edging closer to being part of a regular market.
The report states:
“While early trading was affected by system-specific irregularities, it is found that over the months preceding April 2018 all these statistical indicators approach the features hallmarking maturity. This can be taken as an indication that the Bitcoin market, and possibly other cryptocurrencies, carry concrete potential of imminently becoming a regular market alternative to the foreign exchange.”
Bitcoin and Ethereum also made news when Nouriel Roubini, an economist who predicted the 2008 financial crisis stated that Bitcoin is not going to disappear but coins like Ethereum are “going bust”. He had said:
“Bitcoin is not going to disappear. But, you know, Ethereum is a bubble and it’s a bit of a scam — it’s worth nothing — XRP, all the other ones, they’re all going bust.”
Ethereum [ETH] seems to be unaffected by these comments which was evidenced by the cryptocurrency being one of the biggest gainers in the top 10 cryptocurrency club. A the time of writing, Ethereum [ETH] was growing by a staggering 6.9% with a consistent disparity in terms of market cap with its closest competitor, XRP.
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