Analysts predict the growth of cryptocoins market to $10T

RBC Capital Markets analysts Mitch Steves and Amit Daryanani are conviced that cryptocurrency market will continue to grow up to 20 times
15 December 2017   1527

Analysts of the investment bank RBC Capital Markets Mitch Steves and Amit Darianani are convinced that the current boom in the market is only gaining momentum, and the total capitalization of cryptocurrencies will eventually grow about 20 times. This is reported by Yahoo Finance.

On a near-term basis we think it is quite difficult to make price statements which is why we are flagging the move now in the case that it sustains. Longer term, we think crypto currencies are here to stay and will likely become a large market (our long-term estimate for the Crypto Currency space is in the $10 Trillion dollar range versus ~ $500B today).

Mitch Steves and Amit Daryanani

Analysts, RBC Capital Markets

Also representatives of the Royal Bank of Canada investment department are convinced that the rapid growth of the crypto currency market is "excellent news for Nvidia", whose video cards are in demand among the miners.

Total Market Capitalization
Total Market Capitalization

As you can see on the chart above, rapid rise of cryptocurrency market started at summer 2017. At the beginning of the year, cryptocurrency marketcap was around 14$B. At the moment of press, it is $511B. 

Member of British Parliament Wants to Payl Tax in BTC

MP  comments were made shortly after the Ohio government allowed companies registered in this state to pay bitcoin taxes
11 December 2018   7

Eddie Hughes, a member of the UK Conservative Party, said that the state should make it possible to use Bitcoin when paying taxes and utilities. It is reported by The Daily Express.

Eddie Hughes, who represents North Walsall in parliament, calls himself a "crypto-enthusiast with amateur knowledge." According to him, the blockchain technology attracts a lot of attention, and therefore members of parliament "must understand it."

Eddie Hughes also said that he recently met with representatives of the Royal Society for Water Rescue, which accepts donations in cryptocurrencies, after which he came to the idea of ​​making it possible to use Bitcoin when paying municipal taxes and utilities.

It just feels like it gets talked about a lot, wherever you go in the UK, and as MPs we have a duty to understand it. 

Eddie Hughes


Hughes comments were made shortly after the Ohio government allowed companies registered in this state to pay bitcoin taxes, which he also reminded in his interview within the publication.