Crypto Ups and Downs on 13 - 19 Feb

In this article we present the overview of the gainers and downers among cryptocurrencies with the highest market capitalization during the week from Feb 13 to Feb 19
19 February 2018   1360

From this article you will learn about the most unpredictable ups and downs of cryptocurrencies. We have analyzed the crypto market, and researched the most popular tokens and coins with market capitalization over $1M. In the charts below you can find all relevant information regarding the leaders of growth and fall during past 7 days.

This week was rather successful for some coins and tokens with high market capitalization, for instance, Genesis Vision is currently the leader of our charts as it rose almost 90% within past 7 days. ZClassic keeps growing, as it did last week, and its price increased from $114 on February 13 to $197 on February 19.

The Biggest Gainers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
ZClassic 654 391 255 195,51 17 548 600 + 88.41
ChainLink 273 424 550 0,781213 25 963 900 + 72.52
Santiment Network
Token
195 220 266 3,12 13 216 100 + 79.41
BridgeCoin 147 307 410 121,85 10 925 800 + 89.96
Genesis Vision 224 350 609 5,46 44 001  + 89.99

Nevertheless, past week was not so fortunate for some of cryptocurrencies. A lot of coins and tokens fell down in price and market capitalization, losing popularity among the users.

The Greatest Downers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
U.CASH 143 760 361 0,097432 538 643 - 41.00
XPA 122 331 000 0,122331 270 543 - 22.71
SIRIN LABS Token 85 075 963 0,859879 22 809 000 - 18.56
SpankChain 68 903 163 0,229644 490 178 - 16.43
Unikoin Gold 51 653 452 0,367769 587 161 - 16.81

The greatest downer of this week is U.CASH, which fell 41%, having its market capitalization decreased from $273 million to $147 million only within 7 days. Moreover, XPA token has also had a relatively unsuccessful week, as it fell 22,71%, having its price dropped from $0,16 to $0,12 from February 13 to February 19.

Bitcoin May Pass Gold Market Cap, - Novogratz

Mike Novogratz continues to be Bitcoin and cryptocurrency optimist 
25 March 2019   74

The founder of Galaxy Digital, Mike Novogratz, expressed the opinion that over the next 20 years, Bitcoin’s capitalization would “easily” surpass the gold market, currently estimated at $ 7.5 trillion. It is reported by The Daily HODL.

In a conversation with the founder of Morgan Creek Digital, Anthony Pompiano, Novogratz stressed that the inflow of institutional money to the cryptocurrency market is only a matter of time, and major players like Goldman Sachs and the Intercontinental Exchange (ICE) are already mastering a new industry.

I know Goldman for instance is gearing up around securities tokens. They’re not doing anything yet, but they’re getting really ready and looking at all the questions on – where would you store them? Do you have to build your own custody, or can you use someone else’s custody? How to get them to work.
 

Mike Novogratz

Founder, Galaxy Digital

According to him, the growth potential of Bitcoin is strong and therefore it is advisable for investors to include the first cryptocurrency in their portfolios:

I think the macro case for [Bitcoin] is pretty strong. And so, if you can put a couple percent of your portfolio in, there’s a decent chance it catches wind. Fidelity is just getting set up. Bakkt continues to get delayed a little bit, but it’s not going to be delayed forever. They’re going to be in the game. And there’s lots of other players coming.
 

Mike Novogratz

Founder, Galaxy Digital

According to him, the volume of the gold market is $ 7.5-8 trillion and in order to outperform this market, the first cryptocurrency needs to grow in price at least 100 times.

Gold’s got an $8 trillion market cap, or a $7.5 trillion market cap. And so, we’re 100x off on that. We’re not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily. And that’s giving zero optionality to all the other stuff. And so I think it seems like a pretty smart portfolio bet.
 

Mike Novogratz

Founder, Galaxy Digital

The founder of Galaxy Digital also touched on the topic of bitcoin futures.

The reality is, the CME kicked their butts. And these guys have limited resources on what they’re going to spend their focus, and they decided to spend it elsewhere. Finding leverage in Bitcoin is going to get easier as the architecture in the space gets better. You’re already seeing the lending market around Bitcoin went from 10% to like 3%. So once you can borrow you can short. And so now it’s not so hard to short Bitcoin. It used to be almost impossible to short Bitcoin in 2016… It wasn’t great, but it’s not critical. 
 

Mike Novogratz

Founder, Galaxy Digital

In February Mike expressed the opinion that, thanks to institutional money, Bitcoin will reach $ 8,000.