Published on May 19th, 2017 | by bitcoin0
Cryptocurrency Market Cap Hits an All-Time High at Over $60 Billion
The total market capitalization of all cryptocurrencies reached an all-time high today, passing $60bn as the innovative assets continued to draw robust inflows.
Tim Enneking, chairman of cryptocurrency hedge fund Crypto Asset Management, spoke to this development, stating:
“Cryptocurrencies are finally hitting the general consciousness whereas before they were marginal, with the possible exception of bitcoin.”
As the assets draw “increased media coverage,” Ryan Rabaglia, head trader for Octagon Financial, told CoinDesk new investors are coming to the space.
As for where cryptocurrency prices (and therefore total market cap) will go next, analysts offered mixed views.
Jacob Eliosoff, a cryptocurrency fund manager, offered a more cautious stance, telling CoinDesk that the market was “reaching the frenzy point.”