Most cryptocurrencies have seen a massive loss in the last few days. What has led to this? Erste AM Chief Analyst and Crypto Asset Specialist Harald Egger explains what is behind the cryptocurrency crash.
Bitcoin has achieved an average performance of 142% p.a. in the past five years. Some criticise the high level of volatility but forget about the potential. Many wonder whether, after the dramatic increase, one could still enter the market or whether that ship has sailed. In the following article Crypto Asset Specialist Harald Egger discusses the reasons that have led to the rally of Bitcoin in recent months.
According to industry sources, all of the Cryptocurrencies combined recently hit the $ 1,000Billion. Our Senior Research Analyst Harald Egger goes into the individual coins and tokens that are currently in circulation.
Bitcoins were developed in 2009 as a virtual, digital currency by one person or group with the pseudonym Satoshi Nakamoto. Bitcoins are not physically tangible and are thus also difficult to grasp mentally for many.
Capital markets recorded a positive year of 2017. The performance of the various asset classes was of the textbook variety: the higher the risk, the higher the return.