Crypto Prices Rally: How to Watch for a Bitcoin Bubble Bust

Use these easy tips to track crypto market bitcoin prices.

Bitcoin value jumped about 10 percent Tuesday, July 17, bringing the price of one token up to more than $7,000. Not only that, but it looks like the crypto prices for most of the top 100 cryptocurrencies by market capitalization are also on the rise. The increase might be attributable to investment giant BlackRock looking into ways to capitalize on the crypto market. A bitcoin ETF might soon be available; the Securities and Exchange Commission is seeking comments on a proposal from Cboe Global Markets, which owns the Chicago Board Options Exchange. In just three weeks, the regulators received comments about the crypto exchange-traded fund from 90 individuals — 10 times the number of responses the SEC received when it asked for opinions on another bitcoin ETF listing in April, Bloomberg reported. 

Bitcoin, and cryptocurrency in general, draws both detractors and enthusiasts. Billionaire investor Marc Lasry thinks bitcoin could approach the $40,000 range and regrets that he did not invest in it sooner. And although bitcoin has been known to surge, it’s also been known to plummet.

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Bitcoin’s value soared to nearly $20,000 per coin toward the end of 2017, but has struggled to maintain an over-$10,000 threshold for most of 2018 so far. The cryptocurrency lost 40 percent of its value in early 2018, which most would justifiably view as a risky investment.

The dramatic ebb and flow of bitcoin might indicate a bubble is soon about to burst. Economist Nouriel Roubini called bitcoin “the biggest bubble in human history” in early 2018, predicting that the price of bitcoin could reach $0.

Current Cryptocurrency Values

In the meantime, many cryptocurrency prices are ascending, with bitcoin leading the pack. Here are the prices of the top two cryptocurrencies as of July 18, 2018:

  • Current bitcoin price: $7,400+
  • Current Ethereum price: $490+

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How to Find Cryptocurrency Values

Investors who want to watch for a bubble bust can monitor crypto trends. To check bitcoin and other cryptocurrency values, consider these sources:

  • CoinDesk: The cryptocurrency news site boasts the most widely-sourced bitcoin price index and is used as a resource by The Wall Street Journal and the Financial Times. Aside from serving as a solid resource for bitcoin prices, the site also features friendly guides on how to use blockchain technology and how to navigate the world of bitcoin.
  • CoinMarketCap: The site’s scope extends to over 1,600 cryptocurrencies as of May 2018. It also offers an app to help you monitor bitcoin in real time.
  • The website has charts that users can use to examine bitcoin’s current pricing, its market cap, and even a chart that shows daily transactions involving bitcoin. As of June 2018, bitcoin experienced as many as 200,000 or more daily transactions.
  • Bitcoin Chaser: You cannot check the current price of bitcoin on this site, but it includes a multitude of resources for bitcoin users, including guides on how to handle bitcoin and directories of where they can spend bitcoin.
  • Bitcoin Ticker: This app is free to download and lets users monitor the price of bitcoin.
  • Blockfolio: Another app that’s free to download, Blockfolio supports over 3,000 cryptocurrencies. 

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About the Author

Sean Dennison

Sean joined the GOBankingRates team in 2018, bringing with him several years of experience with both military and collegiate writing and editing experience. Sean’s first foray into writing happened when he enlisted in the Marines, with the occupational specialty of combat correspondent. He covered military affairs both in garrison and internationally when he deployed to Afghanistan. After finishing his enlistment, he completed his BA in English at UC Berkeley, eventually moving to Southern California.

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