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Cryptocurrency has been around for a long time, and there are several papers and publications on the subject. Cryptocurrencies have not only grown in popularity, but they have also established themselves as a new and secure investment option.
The crypto industry is still new, but it is mature enough to provide sufficient research and trend prediction data. Though it is often regarded as the most volatile market and a high-risk investment, it has recently become predictable to a degree, as seen by Bitcoin futures.
With minor adjustments and changes, many stock market ideas have now been applied to the crypto market. This is another example of how many individuals are embracing the cryptocurrency market daily, with over 500 million investors now participating. Even though the entire market capitalization of the crypto market is $286.14 billion, or about 1/65th of the stock market at the time of writing, the market potential is quite large, given its success and the presence of already established financial marketplaces.
The reason behind this is because people have begun to believe in the technology and goods that underpin cryptocurrencies. This also implies that crypto technology has established itself to the point where businesses have decided to store their assets as crypto coins or tokens. With the popularity of Bitcoin, the notion of cryptocurrency gained traction.
Bitcoin, which once used to be the only Cryptocurrency, now contributes only 37.6% to the total Cryptocurrency market. The reason being, the emergence of new Cryptocurrencies and the success of projects backing them. This does not indicate that Bitcoin failed market capitalization Bitcoin has increased, rather what this indicates is that the crypto market has expanded as a whole.
These facts are enough to prove the success of Cryptocurrencies and their market. And in reality investment in the Crypto market is considered safe now, to the extent that some investors as for their retirement plan.
Therefore what we need next are the tools for analysis of the crypto market. Many such tools enable you to analyze this market like the stock market providing similar metrics. Including coin market cap, coin stalker, cryptos, and investing. Even though these metrics are simple, they do provide crucial information about the crypto under consideration. For example, a high market cap indicates a strong project, a high 24hour volume indicates high demand, and circulating supply indicates the total amount of coins of that crypto in circulation.