Originally posted by Ludicrous
Everyone has been saying all the crypto currencies will collapse since bitcoin spiked so high, i'm just gonna hold it out till it does or till it's worth taking the money out. Currently ripple is skyrocketing because of koreans buying it i think i read, and rumour has it that coinbase will be adding ripple which will also make the value skyrocket
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Opinions aside, you should really be paying attention to market cap and supply of these coins. I see a bunch of people be like “oh wow, Ripple is super cheap and it probably has a chance to become the next bitcoin”. When you look at market cap, this is the total amount of coins available multiplied by the current value. At the moment, Ripple is at a $138B market cap while Bitcoin is only at $254B. Of course it’s possible for Ripple to be higher than Bitcoin, but even then that’s not much more growth. The market cap would literally be larger than the entirety of the US stock market if Ripple would ever match Bitcoin’s current price. I like crypto as much as the next guy but I don’t think that’s likely to happen with a single coin.
Not trying to act like you thought the price would get that high; I just felt like clarifying this for anyone who reads this thread thinking Ripple is a bargain. There’s more to crypto prices than just the price itself.