Bitcoin is cryptocurrency or what people call digital money. Recent events are leading many to Bitcoin mining and investing in Bitcoin, as many are inclined to believe that this is a great start for investment, for more details see BitJournal .
The total market capitalization of these digital assets continues to grow and today hit a new all-time high of $ 172.2 billion, more than 850% of their $ 17.7 billion value earlier this year.
Why is this innovative asset class continuing to grow? According to analysts, the crypto market is growing for several reasons.
The constant supply of Initial Coin Offerings (ICOs), the growing amount of funds that are being traded, and the sustained interest of investors all contribute to this trend.
These innovative methods have diminished interest in more traditional methods of raising capital. The ease of fundraising through ICOs attracts both entrepreneurs and investors from less efficient capital raising channels.
Another factor that can add value to cryptocurrencies is the growing number of hedge funds that focus on these digital assets. “As new funds finalize their legal paperwork and begin acquiring crypto assets, the market will continue to hit new highs,” said Arthur Hayes, Co-Founder and CEO of BitMEX, a cryptocurrency trading platform.
