Bitcoin hit $2338.10 officially on the dinbits index while ZCash has risen over $275 in recent days. There are several digital assets that have also ignited including Gnosis, Litecoin, and Dash among others.
Dash is at $144, while Gnosis is commanding over $200 per coin. Some other impressive movements on assets include Litecoin (LTC) $30.87, Ethereum (ETH) at $178.00, Monero (XMR) at $53.25, and Ethereum Classic (ETC ) where Ethereum was just a few months ago at $13.37.
The bad boy however, is the most impressive. Bitcoin. The digital asset that started this entire industry is trading at a market rate of as high as $2,338.10 (the new all-time high) which some may believe is a "bubble" but bitcoin is actually at a lower market rate than most expected it to be currently and what many say is undervalued.
In 2014/2015 bitcoin took a devastating blow with Mt. Gox and other exchanges failing and casting a shadow of doubt over bitcoin and the industry as a whole. Bitcoin would then drop to under $200 before finally starting a slow but somewhat steady and stable recovery.
We forecast in January that bitcoin would meet or exceed $2,500 by September 2017. Here we are about to enter June, just 3 months away, and bitcoin is at $2,300 with no signs of letting up. Some have forecast a market value of $3500 or more by year end.
We're not ready to call that one yet but we'll make our call and prediction come June after where half way through the year.
One thing that is apparent, our prediction of $2500 is likely going to happen on or before September. What's not so transparent are the other digital assets becoming so valuable so fast like Gnosis and ZCash. ZCash got a boost from the JPMorgan partnership but Gnosis is brand new. It's always recommended advice to approach investing with extreme caution when dealing with new assets, however Gnosis it one of the good ones from the looks of things.
These are all nice problems to have and here's a couple facts to ponder, bitcoin's market capitalization is currently at an astonishing $39 billion and digital assets overall are at $87 billion.