Ethereum today reached a new all-time high of $201.75 up 986.3% since NIA announced Ethereum as its new #1 favorite Cryptocurrency suggestion on March 6, 2017 at $18.50! Over the last 5 days, Ethereum has gained a record 127.2%, an unbelievable 7 standard deviations above average!
Bitcoin today reached a new all-time high of $2,256.01 up 324.4% from NIA’s suggestion on May 30, 2016 at $531.56! For the first time ever, Bitcoin’s market cap surpassed the market cap of SPDR Gold Trust (GLD). At today’s high of $2,256.01, Bitcoin had a market cap of $36.88 billion vs. GLD’s market cap of $34.49 billion.
Together, Bitcoin and GLD are now worth a combined $71.37 billion. Their record combined market cap of $76.55 billion was set back on October 8, 2012. When that record was set, GLD had a market cap of $76.429 billion vs. Bitcoin’s then market cap of only $122.253 million.
This is probably a good time for Bitcoin investors to begin taking profits and moving those funds into GLD. Bitcoin is already yesterday’s technology, with Ethereum being far superior.
This Cryptocurrency rally is an early sign of hyperinflation. NIA estimates that if not for the current popularity of Cryptocurrencies, the price of gold would currently be trading between $200-$300 per oz above its current price of $1,260.70 per oz. Cryptocurrencies are currently being favored over gold and silver due to their technological advantages and the fact that the NASDAQ remains near record nominal highs.
When the current tech bubble begins to burst, gold and silver will once again be favored over Cryptocurrencies. The same hyperinflationary forces driving up Bitcoin and Ethereum today will soon cause gold to make a run like Bitcoin and silver to make a run like Ethereum.