I’ll be the first to admit that I don’t have a very good grasp on blockchain technology, but I am struggling to understand how many of these cryptocurrencies could become something that is used by ordinary people on an every day basis; especially when governments are trying to regulate them out of existence or further marginalise them.
So what exactly are these cryptocurrency market capitalisations based on? Here’s a list of the top 20 cryptocurrencies as of today:
Even #20 (ALGO) has a market capitalisation of almost $12.2 billion US dollars. I just don’t get it. How could it possibly be worth that much? I have this very strong belief that when the cyptocurrency bubble eventually deflates there isn’t going to be much left when the dust settles. We were here before in 1998 and 1999, and again five or six years later as the commodities bull market took hold. All bubbles end, and this one seems to me to be the biggest market bubble of all time.
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